A divided Fed cuts key rate for 2nd time this year

Posted on AllSides September 18th, 2019
From The Left

WASHINGTON (AP) — A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion.

The Fed’s move will reduce its benchmark rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%.

The action was approved 7-3, with two officials preferring to keep rates unchanged and one arguing for a bigger half-point cut. It was the most...

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https://www.apnews.com/aee55122667b40f78657a293ba2c83dc

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