Fed cuts interest rates

Credit: Reuters Studio
Published on September 18, 2019 - Duration: 01:41s

Fed cuts interest rates

Federal Reserve Chairman Jerome Powell announced interest rate cuts by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next.

Rough Cut (no reporter narration).


Fed cuts interest rates

The central bank also widened the gap between the interest it pays banks on excess reserves and the top of its policy rate range, a step taken to smooth out problems in money markets that prompted a market intervention by the New York Fed this week.

In lowering the benchmark overnight lending rate to a range of 1.75% to 2.00% on a 7-3 vote, the Fed's policy-setting committee nodded to ongoing global risks and "weakened" business investment and exports.

You are here

Recent related news from verified sources

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell is due to testify Wednesday in Congress about the outlook for the U.S. economy, giving his perspective...
1 week ago • SeattlePI.com

Asian shares blipped higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that...
2 days ago • WorldNews

Recent related videos from verified sources

Investors: Don't Expect a Rate Cut for the Holidays 01:50
Credit: The Street - Published 1 week ago 

Fed's Powell in No Rush to Cut Rates, But the Market Barely Flinched 01:20
Credit: The Street - Published 1 week ago 

You might like