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2008-12-16 14:53:12

The U.S. Federal Reserve Tuesday cut the federal fund rate from 1 percent to a range between zero percent and 0.25 percent, the lowest in its history. Although inflationary pressures have diminished considerably, the Fed said that the labor market, consumer spending, business investment and industrial production have all declined. Financial markets remain quite strained and credit conditions tight, the Federal Open Market Committee said in a statement. The focus ... going forward will be to...


Word of the Day
tesla
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.