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Sun. 04 Jan, 2009 - Sat. 10 Jan, 2009
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  • Fed: Economic woes will last despite radical moves
  • Fed: Economic woes will last despite radical moves

    WASHINGTON (AP) ? 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.

    Documents released Tuesday provided insights into the Fed's historic decision to ratchet down its rate from 1 percent to near zero at its Dec. 15-16 meeting. In the first action of its kind in the Fed's 95-year history, Fed Chairman Ben Bernanke and his colleagues created a target range for its rate, putting it at zero to 0.25 percent.
    see more on NewsOK.com

  • Glenn Coffee becomes first GOP Senate pro tem
    Glenn Coffee of Oklahoma City has been installed as the first Republican to hold the No. 1 leadership position in the Oklahoma Senate.

    Coffee was elected Senate president pro tem on Tuesday at a one-day organizational meeting of the 2009 Oklahoma Legislature. Republican Chris Benge of Tulsa will return as speaker of the House when lawmakers begin considerating legislation on Feb. 2.

    The GOP gained a majority in the 48-member Senate for the first time in history by picking up two seats at the November general election. Republican senators now outnumber Democrats, 26-to-22. They hold a 61-40 advantage in the House after gaining four seats last year.
    see more on NewsOK.com

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