The Federal Reserve on Wednesday cut its benchmark interest rate for the second time this year.
The Fed cut the rate by a quarter of a percentage point. The federal funds rate is now at 3.75% to 4%.
The cut comes amid a roughly four-week-long partial federal government shutdown, and follows a Bureau of Labor Statistics report last week, the Consumer Price Index, that showed the costs of goods increased slightly, for the first time since January.
The central bank last month cut its benchmark interest rate a quarter of a percentage point, its first such reduction this year, in an attempt to jump start a slowing labor market.
Reprinted with permission from Just The News by Joseph Weber.
The opinions expressed by columnists are their own and do not necessarily represent the views of AMAC or AMAC Action.
FR finally faces reality. Or was it pure “hatred” of the man in the WH that prevented this overdue adjustment. More reduction is necessary.
Still not enough but things are getting interesting now! Wait till may when Powell leaves!
Hurts us who rely on CD interest for much of our retirement income.
The Country needs to get rid of Schumer.