CBS Evening News - 1998-09-29
Channel: malgent
Uploaded:
Duration: PT1734S
Read a transcript preview of “CBS Evening News - 1998-09-29” from malgent, uploaded on 2025-03-12.
Transcript preview
Language: English (YouTube automatic captions)
[0:00] students are referred by the district a
[0:02] flu shot for the US economy the Federal
[0:05] Reserve cuts a key interest rate trying
[0:07] to protect the economy from the Asian
[0:10] Contagion on the waterfront the
[0:12] hurricane is down to a tropical
[0:14] depression but a lot of weather and a
[0:16] lot of people are still affected and the
[0:18] government approves a new lease on life
[0:20] for people with failing
[0:24] Hearts this is the CBS Evening
[0:28] News with Dan Rather reporting from CBS
[0:32] News headquarters in New York good
[0:34] evening the cost of borrowing money is
[0:36] about to go down the US Federal Reserve
[0:39] voted today to cut a key interest rate a
[0:42] quarter of a point the idea is to give
[0:44] the US economy a shot in the arm in the
[0:46] face of a spreading financial crisis
[0:48] overseas CBS News business correspondent
[0:51] Anthony Mason has more on what the FED
[0:53] did today and the impact trying to keep
[0:57] the US economy running ahead of a global
[1:00] slow down Federal Reserve chairman Alan
[1:02] Greenspan moved to cut the fed's key
[1:04] short-term interest rate by a quar per
[1:07] today from 5 a half to 5 and A4 the
[1:10] fed's official reason to cushion the
[1:12] effects of increasing weakness in
[1:14] foreign economies this is more of a
[1:17] symbolic gesture by the FED to say we're
[1:20] here we're on top of things we're not
[1:23] going to let this thing get bad the rate
[1:25] cut the first in nearly 3 years should
[1:27] be reflected in bank prime rates within
[1:30] days and should help lower interest
[1:32] rates on everything from credit cards to
[1:34] car loans while the US economy remains
[1:37] healthy Market strategist Scott BL says
[1:40] the FED needed to