International - SPIEGEL ONLINE - News
"Fed Cut Could Spell Doom for Europe By Anselm Waldermann The US Federal Reserve on Wednesday cut interest rates by a quarter point. But what may be good for the US economy, could be disastrous in Europe. The battle against inflation could send the euro through the roof. Economic growth in the United States will, in the short term, slow down. That, at least, is the future seen in the US Federal Reserve's crystal ball. The consequences of that forecast became clear on Wednesday: The central bank cut short-term lending rates by a quarter of a percentage point to 4.5 percent. The idea is to nip any possible recession in the bud."
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