Fed slices interest rates for second time since 2008 recession

The Federal Reserve cut its benchmark lending rate by one-quarter of a point on Wednesday, the second time this year it has reduced rates in the face of a weakening global economy.

The central bank's new interest rate is now 1.75 percent to 2 percent, according to a statement issued after a two-day monetary policy meeting by the Federal Open Market Committee, the voting arm of the Fed.

While President Donald Trump has repeatedly pushed for rates of "ZERO or less" — a move he believes will boost the economy...