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Interest-Rate cut Expected as Federal Reserve Convenes

Disappearing jobs, burrowing consumers and skittish companies are reasons for the Federal Reserve to lower interest rates and brace the tottering economy.

Fed Chairman Ben Bernanke and his colleagues open a two-day meeting this afternoon — their last before the November elections — to make a fresh assessment of economic and financial conditions and decide their next move on rates. Their decision will be announced Wednesday.

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