Federal Reserve Cut Interest Rates For Third Time This Year

The Federal Reserve cut interest rates for the third consecutive time on Wednesday, but did not offer clues as to whether or not it will cut rates further.

The Federal Open Market Committee on Oct. 30 voted to reduce the benchmark interest rate by 25 basis points to a target range of between 1.5% to 1.75%. The FOMC statement justified the need for another cut by pointing to business fixed investment and exports that appear to “remain weak.”

Fed Cuts Rate for Third Time This Year, Signals Pause

Via www.wsj.com