Morning News Friday, August 17th 2007
General News: - The Federal Reserve lowered the interest rate it makes to banks and acknowledged for the first time today that an extraordinary policy shift is needed to contain the subprime-mortgage collapse that began roiling the world's financial markets two months ago. - U.S. stocks rose the most in a week after the Federal Reserve unexpectedly cut its discount rate and said it stands ready to ``act as needed'' to keep credit market losses from sapping economic growth. - Confidence among U.S. consumers dropped in August to the lowest level in a year as slumping stocks and a widening…