The deep rate cut was the sixth reduction in as many months, but investors had been betting heavily that the Fed would cut its key rate a full percentage point.
AP - President Bush says he has no doubts about launching the unpopular war in Iraq despite the "high cost in lives and treasure," arguing that retreat now would embolden Iran and provide al-Qaida with money for weapons of mass destruction to attack the United States.
AP - U.S. forces raided a village near the border with Pakistan early Wednesday and killed six people, including two children and a woman, villagers and a government official said.
AP - Barack Obama confronted the nation's racial divide head-on Tuesday, tackling both black grievance and white resentment in a bold effort to quiet a campaign uproar over race and his former pastor's incendiary statements.
The Supreme Court searched for compromise today in a potentially monumental case over gun control that would protect individuals' right to keep weapons in their homes, while preserving the government's power to enact reasonable weapon restrictions.