Jim Paulson, Norwest Investment chief

Programs & Series | MPR News Feature | Types | Interviews |
September 29, 1998
Listen: Jim Paulson, Norwest Investment chief
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The Federal Reserve cut a key short term interest rate today. The federal funds rate, one of the Fed's two benchmark short-term interest rates, was lowered by a quarter percentage point to 5.25 percent. The Fed calculates the move will cushion the US economy from a worsening global economic situation, and a domestic credit crunch. Jim Paulson, the Chief investment officer of Norwest Investment Management in Minneapolis , says the rate cut is extremely welcome news on many fronts.

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