Federal Reserve board votes to cut interest rates
Thursday, October 31, 2019 | Tag Cloud Tags: Economy, Federal Reserve, Kansas, News, NSA, Washington, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(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…) ]
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