(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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