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As expected, the central bank lowered the key interest rate by one-quarter percentage point, to 2 percent. But this could be it for a while. A statement accompanying the announcement talked about the impact of cumulative rate cuts, which Fed watchers say is a sign that there's little sentiment to go any further. Plus, there is plenty of concern about inflation. (NYT, WSJ)

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2:25 PM Fri | Martin Gomez, the head librarian for Los Angeles since 2009, will become vice dean in the USC Libraries on April 2.