Gustav Klimt The Kiss painting

Gustav Klimt The Kiss painting
Gustav Klimt Sea Serpents painting
They'll do more if they need to ensure that the economy doesn't go into a tailspin," said Dana Johnson, senior managing director and head of research at Banc One Capital Markets Inc. in Chicago. "They're absolutely committed to doing everything they know how to do to prevent a hard landing."The Fed's willingness to cut rates fast is a sharp reversal from its campaign of aggressive rate rises between June 1999 and May last year, when it raised short-term credit costs six times to keep a lid on prices as the economy soared. The Fed's emergency move came as Bush was meeting with more than 30 business executives and chief executives about the state of the economy in a hotel in Austin, Texas. "I am pleased the Fed has cut the interest rates. I think the cut was needed," Bush told reporters. "It was a strong statement that measures must be taken to make sure our economy does not go into a tailspin."