It’s possible that this downturn could end quicker than anyone thinks. Meeting last month, Fed officials worried that even a dramatic cut in interest rates would not be enough to cauterize the country's economic troubles quickly. Even as Federal Reserve officials slashed their key interest rate to a record low and pledged to use other unconventional tools to fight the worst financial crisis since the 1930s, they still feared the economy would be stuck in a painful rut for some time.
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