Tuesday, January 22, 2008

US moves to avert economic meltdown (AP)



President Bush, center, flanked by House Speaker Nancy Pelosi of Calif., left, and Senate Majority Leader Harry Reid of Nev., meets with Congressional leaders to discuss the economy, Tuesday, Jan. 22, 2008, in the Cabinet Room of the White House in Washington. (AP Photo/Pablo Martinez Monsivais)AP - Jolted by global recession fears, the Federal Reserve slashed interest rates Tuesday, and President Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending.




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