BREAKING: Federal Reserve cuts interest rate by 0.25 percent, marking first rate cut since 2008

Share:

The Federal Reserve cut the interest rate by one-quarter of a percentage point on Wednesday, marking the first such reduction in 11 years and providing an extra boost to the domestic economy as it faces the headwinds of a global economic slowdown.

The announcement came at the conclusion of a two-day meeting of the Federal Open Market Committee, the central bank’s monetary policymaking arm.While Fed Chairman Jerome Powell has acknowledged the strength of the nation’s economy — the 10-year economic expansion is the longest on record, unemployment stands at a near-historic low of 3.7 percent, and the stock market continues to chalk up record highs — Wednesday’s move is an attempt to guard America against increasing geopolitical tensions, the potential impact of Brexit, and fallout from President Donald Trump’s protracted trade war with China.

Full Story @ NBC News

Follow Blog via Email

Enter your email address to follow this blog and receive notifications of new posts by email.

Media Bias Fact Check LogoProtecting you from fake news sites since 2015

1 Comment on BREAKING: Federal Reserve cuts interest rate by 0.25 percent, marking first rate cut since 2008

  1. Phil Johnson // July 31, 2019 at 2:39 pm //

    IMHO, this is more evidence of head-sand-plowing by Wall St. yclept gurus who think there is no end to the financial shell game. Go to Author: Peter Grandich (Confessions of a Wall Street Whiz Kid) for an explanation of why the end is coming because of a bloated debt, dollar weakness, trade issues, etc. It is time to recognize that we are in deep doo-doo.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

[the_ad id="86448"]