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News

September 18, 2019

Fed Cuts Rates by Quarter Point but Faces Growing Split

 

WSJ
By Nick Timiraos

WASHINGTON—The Federal Reserve cut its benchmark interest rate by a quarter-percentage point for the second time in as many months to cushion the economy against a global slowdown amplified by the U.S.-China trade war.

Fed Chairman Jerome Powell left the door open to additional cuts and repeatedly cited the costs of rising trade-policy uncertainty. But Central bank officials were split over Wednesday's decision and the outlook for further reductions. Read more (subscription needed).

 
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