Fed Votes on Second Rate Cut
In the most divided vote since 2014, the Fed voted 7-3 to lower interest rates by 25 basis points to 1.75-2%. Fed Chair Jay Powell said he sees a benefit in having diverse perspectives. He added that sometimes the path is very clear but that’s not the case right now given weakening global growth and trade developments that the Fed is monitoring.
Powell Comments on Fed's First Post-Crisis Rate Cut
The Federal Reserve cut interest rates for the first time since 2008 and Chair Jay Powell says the Fed has no plans for a long cycle of cutting.