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--> --> Fed cuts key rate by quarter-point WASHINGTON (AP) - The Federal Reserve cut a key interest rate today for a sixth time this year, but by only a quarter-point, instead of the half-point moves it had been making. The Fed cut its target for the federal funds rate, the interest banks charge each other on overnight loans to 3.75 percent, the lowest since April 18, 1994, when the funds rate also stood at 3.75 percent. In response, commercial banks were expected to announce that they were reducing their prime lending rates, the benchmark for millions of consumer and business loans, by a similar quarter-point to 6.75 percent, also the lowest since 1994. Email your... Technical questions & comments to: WebMaster Daily Tidings editorial comments & questions to: Editor Visit our other Oregon Newspapers... | Albany Democrat-Herald | Ashland Daily Tidings | Corvallis Gazette-Times | | Lebanon Express | Newport News-Times | Springfield News | Cottage Grove Sentinel | Ashland Daily Tidings 1661 Siskiyou Blvd. Ashland, OR 97520 Telephone 541-482-3456 © Copyright 2001 Lee Northwest Publishing