(Worthy News) - The Federal Reserve cut rates by a quarter point Wednesday in a widely expected move aimed at staving off a slowing economy and fears of a recession.
It was the third rate cut in a row for the monetary policy committee, bringing the target for short-term interest rates to a range of 1.5% to 1.75%.
Two Fed officials, Kansas City Fed President Esther George and Boston Fed President Eric Rosengren, voted against the rate cut and would have maintained the target range set in September. [ Source: Washington Examiner (Read More...) ]
Copyright 1999-2019 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.