Bitacoras.com

Uncle Ben is prepin' up for the deepest interest rate cut in a generation. Traders predict the Federal Open Market Committee, meeting today in Washington, will lower the overnight lending rate by a full percentage point or more, based on futures prices in Chicago. That would be the biggest reduction since 1984, when Paul Volcker led the central bank, and would bring the benchmark rate down to 2 percent. ``The Fed will be extremely hesitant to disappoint the markets,'' said Stephen Stanley, chief economist at RBS Greenwich Capital Markets Inc. and a former member of the Richmond Fed staff, who predicts a full percentage-point cut. ``Things are still very fragile. We are in a situation where c... Enlace permanente.