Federal Reserve board votes to cut interest rates


fed reserve worthy us news(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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