Recovery: Fed, Bush try to keep country moving
The Federal Reserve lowered interest rates for the ninth time in 2001, cutting its target for the federal funds rate to 2.5 percent from 3.0 percent, the lowest level since 1962.
President Bush visited Ronald Reagan Washington National Airport Tuesday and announced it would reopen Thursday. Reagan National is the only major passenger airport in the United States still closed in the aftermath of the September 11 attacks. Security measures at the airport, located just across the Potomac River from Washington, will be greatly increased.
The Federal Reserve cut interest rates by a half-percentage point Tuesday, bringing overnight bank lending rates to their lowest level in nearly 40 years in an effort to keep the U.S. economy from falling into a recession.
The U.S. central bank cut its target for the federal funds rate to 2.5 percent from 3.0 percent, the lowest level since 1962. The Fed also cut the seldom-used discount rate to 2.0 percent from 2.5 percent. It was the ninth cut in 2001 and the second since the terrorist attacks on September 11. (Full story)
Ronald Reagan Washington National Airport will reopen Thursday, President Bush announced at an appearance there.
The reopened airport will have a variety of new security restrictions, including air marshals on every flight, double screenings of passengers, and varied flight routes. Reagan National has been closed since the September 11 terrorist attacks and is the only passenger airport in the United States still closed. (Full story)
Among new security measures expected at airports in the war against terrorism is the technology of face recognition, aviation industry officials say. (Full story)
The man in charge of security at Boston's Logan Airport, the originating point for the two planes that crashed into the World Trade Center last month, is expected to be ousted from his job, the city's two newspapers reported Tuesday. (Full story)
The U.S. Postal Service unveiled a new patriotism stamp called "United We Stand" Tuesday, three weeks after the World Trade Center and the Pentagon attacks. "The 'United We Stand' stamp is a ballot for freedom. It's a reminder to the world that liberty and justice are more than words, they are the essence of who we are," said Postmaster General John E. Potter. (Full story)
Will Americans resume air travel at their previous levels? Click for more
What will happen to the World Trade Center site? Click for more
What are the legal issues involved in compensating the victims?
What will be the long-range impact on the insurance industry?
How has the fabric of New York, Washington and the country as a whole been altered?
What measures will be taken to try to prevent a recurrence of such attacks? Click for more
How will these measures affect the American way of life?
What effect will the attacks have on the economy?
What will be the global effect?
George W. Bush: U.S. president
Laura Bush: First lady of the United States, she has become more visible since the terrorist attacks, making public appearances urging parents and teachers to help reassure children that everything is being done to try to keep them safe. Click for more
Tom Ridge: President Bush's appointee as head of the newly created Cabinet post of Office of Homeland Security, Ridge has been governor of Pennsylvania since 1995. Click for more
Joe Albaugh:The chief of the Federal Emergency Management Agency Click for more
Rudy Giuliani: Mayor of New York Click for more
Paul O'Neill: Treasury secretary
Norman Y. Mineta:Transportation secretary
Jane Garvey: FAA administrator
New York City officials said the number of people reported missing by family members is 4,651. The police department reports 5,219 people missing, a number compiled from six separate sources, which means there will likely be redundancies. Officials say 344 people have been confirmed dead from the September 11 attacks.
In Washington, 189 people are believed to have died in the September 11 attack on the Pentagon.
The events of September 11 exposed the vulnerability of the world's greatest superpower, presenting the United States with the challenge of recovering emotionally and physically.
Several industries -- particularly the airline industry and the insurance industry -- have been hit hard by the aftermath of the terrorist attacks, and their progress will be watched closely as a guide to the overall U.S. economic and psychological recovery.
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