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Economy / Surprise Interest Rate Cut #397674

CBS Evening News for Wednesday, Apr 18, 2001
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(Studio: Dan Rather) The Federal Reserve Board's surprise half-point interest rate cut reported. Stock Market Report.

(Studio: Anthony Mason) The reaction of the market to the interest rate cut examined. [Wells Fargo Sung Won SOHN - says he wants to give Federal Reserve Board Chairman Alan Greenspan a hug.] [UBS PaineWebber Arthur CASHIN - says the markets are stabilizing.] [Prudential Securities Larry WACHTEL - says the worst has been seen.] [General Motors CFO John DEVINE - says more rate cuts may be needed.]

(Studio: Dan Rather) A decline in the leading economic indicators noted. Interview held with former Federal Reserve Board governor Susan Phillips. [PHILLIPS - says she thinks the economy is near the bottom if not at it; says weak earnings reports may have brought on the rate cut.]

Mason, Anthony;
Rather, Dan

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