10.30.19
On Wednesday, October 30th, the Federal Reserve (Fed) cut interest rates and lowered the federal-funds rate to a range between 1.5% and 1.75%. This marks the third time since July that the Federal Reserve has lowered their benchmark amid concerns of a slowing economy. Federal officials cited three primary reasons for cutting the interest rate: weakening global growth, uncertainty surrounding the US-China trade conflict, and muted inflation. After the decision was made, Federal Reserve Chairman Powell highlighted that this could potentially be the last time they cut rates for a while, citing uncertain economic conditions.
Read more via the Wall Street Journal.