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Rep. Frank on Economic Stimulus

This article is more than 13 years old.

Financial markets across the world are responding to the United States' decision to slash its benchmark interest rate.

This reaction comes a day after the US Federal Reserve delivered its biggest one-day rate cut in more than 23 years. Fed Chairman Ben Bernanke announced the move yesterday, amid concerns about a plunge in global markets and fears of a recession.

It's the Fed's first emergency cut since 9/11, and it came the same day President Bush was meeting with Congressional leaders about the details of a proposed economic stimulus package.

Massachusetts Representative Barney Frank is involved in those talks. He's Chairman of the House Financial Services Committee and joins WBUR's Bob Oakes to discuss the proposals.

This program aired on January 23, 2008. The audio for this program is not available.

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