Chrysler CEO says Fed rate cut to boost auto sales

Newswire

DETROIT, Jan 22 (Reuters) - Chrysler Chief Executive Bob Nardelli on Tuesday said the Federal Reserve's rate cut would help ease consumer confidence and boost auto sales in 2008. "We are very pleased with the cut," Nardelli told reporters on the sidelines of the Automotive News World Congress. Earlier on Tuesday, the U.S. Federal Reserve cut interest rates by three-quarters of a percentage point in an emergency move to save the economy from a recession. Nardelli said the move could ...

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