The Federal Reserve cut interest rates again, a move that meets market expectations but is bound to trigger another angry broadside from Trump
The Federal Reserve cut interest rates for the third time this year today but failed to signal that another one would be coming later this year, a move that meets market expectations but is bound to trigger another angry broadside from President Donald Trump.
That stimulus is intended to aid the economy in the face of a contracting manufacturing sector and weak business investment – the result of extended trade tensions and slowing growth in other countries. Inflation has also persistently come in below the Fed’s 2 percent target, which further feeds the case for lowering rates.
The Fed’s recent moves will take some time to ripple out into the broader economy, and the central bank will want to monitor how much its actions have helped; new GDP data released Wednesday morning showed that the U.S. economy grew by only 1.9 percent in the third quarter.
France Dernières Nouvelles, France Actualités
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