BREAKING: The Federal Reserve cuts rates for a second time this year with promise to 'act as appropriate' to sustain economic expansion. The Fed's move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%.
The Federal Reserve is cutting rates 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.
Still, the Fed’s move will likely displease Trump, who has attacked the Fed and insisted that it slash rates more aggressively. A key date for those corporations was Sept. 15, according to Wells Fargo, which has dried up the pool of funding used by broader markets for quick cash.Stock markets are subdued and the price of oil is down slightly as investors look ahead to an expected interest rate cut from the Federal Reserve and monitor the fallout from attacks on Saudi Arabia’s oil plants.
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