BREAKING: The Federal Reserve has cut its benchmark interest rate for the third time this year to try to sustain the U.S. economic expansion in the face of global threats. But it hinted that it won't cut again at its next meeting.
The Federal Reserve has cut its benchmark interest rate for the third time this year to try to sustain the economic expansion in the face of global threats. But it hinted that it won’t cut again at its next meeting.
The economy is in its 11th year of expansion, fueled by consumer spending and a solid if slightly weakened job market. But by cutting rates the Fed is trying to counter uncertainties heightened by President Donald Trump’s trade conflicts, a weaker global economy and a decline in U.S. manufacturing.The Federal Reserve is deciding whether to cut the short-term interest rate it controls for the third time this year, a decision they will announce at 2 p.m.
Business spending, however, fell by the most in nearly four years. Many companies have said they have postponed major investment projects because of uncertainties stemming from the U.S.-China trade war.Stock markets are mostly down as investors look ahead to an expected interest rate cut by the U.S. Federal Reserve.
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