The Federal Reserve’s three-quarter point interest rate cut yesterday evening - its sixth interest rate cut since September - fell short of the 1 per cent that financial markets expected. Ruling out an interest cut, he said economists who expect the European Central Bank to cut interest rates were too gloomy about growth prospects in the euro zone. The Financial Times reports that US stocks staged their biggest rally in more than five years on Tuesday as confidence in the stability of the financial system grew and the Federal Reserve cut interest rates by 75 basis points to 2. The central bank lowered its federal funds rate