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The Federal Reserve slashed the federal funds rate, charged on overnight loans between banks, by one-half a percentage point to 4.75 percent. Wall Street investors were happy. But for average people, the cut doesn't translate into that much money in their pockets.

The former U.S. Attorney and longtime New Yorker staff writer has a new book about the nation's highest court. The Nine: Inside the Secret World of the Supreme Court contains new information about the 2000 presidential election challenge.

Pakistan president Gen. Pervez Musharraf will step down as army chief if he is re-elected and will be sworn in as a civilian president, a government lawyer said Tuesday.

The White House made sure Attorney General nominee Michael Mukasey would fly with potential opponents: conservative Republicans as well as various Democrats. President Bush stayed away from more volatile choices.

President Bush's nominee to succeed Alberto Gonzales as attorney general is retired federal judge Michael Mukasey of New York. Attorneys who have argued cases in Mukasey's courtroom say he is smart and fair.

Pakistan's Election Commission appears to have cleared the way for President Gen. Pervez Musharraf to seek another term while serving as army chief. However, legal challenges against the president are mounting.

President Bush will announce the selection of Michael Mukasey, a retired federal judge, to replace Alberto Gonzales as U.S. attorney general. Mukasey heard many high-profile terrorism cases as a federal judge in New York.

Until two weeks ago, Norman Hsu was a prodigious fundraiser for Hillary Clinton. Since then, he has run from the law and forced the campaign to return all the money he raised. As he built a reputation as a political money man, his background lay hidden.

Norman Hsu raised millions for Democratic candidates, writing big checks and bundling even more. All that has changed, as news of Hsu's bankruptcies and questionable business practices have made headlines.

A top leader of the Sunni Arab movement that has been aligned with U.S. forces in Iraq's Anbar province was killed Thursday in a roadside bombing. Sheikh Abdul Sattar Abu Risha was founder of the Anbar Salvation Council, which joined U.S. troops fighting al-Qaida in Iraq last year.