First cut by Fed in more than 10 years welcomed First cut by Fed in more than 10 years welcomed
THURSDAY, AUGUST 01, 2019
The Federal Reserve lowered its benchmark rate by a quarter point Wednesday as an insurance policy not against what’s wrong with the economy now, but what could go wrong in the future. It was the first rate cut by the central bank in more than a decade, according to a statement released by the Federal Open Market Committee (FOMC) on Wednesday.