The Federal Reserve cut its benchmark lending rate by one-quarter of a point on Wednesday, marking the second time this year it has reduced rates in the face of a weakening global economy.
While President Donald Trump has repeatedly pushed for interest rates of “ZERO or less” — a move he believes will boost the economy and drive the stock market higher — Fed Chairman Jerome Powell has resisted bowing to political rhetoric, focusing instead on sheltering the U.S. from a global economic slowdown.
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