Fed Approves Another Interest Rate Cut

For the second time in six weeks, the Federal Reserve is cutting interest rates.

On Wednesday, the Fed dropped rates by another quarter-point to a target range of 1.75% to 2% in the hopes of staving off a global economic slowdown.

The news caused a 200-point drop in the Dow Jones on Wall Street from investors hoping for a deeper cut.

Last month’s rate drop was the first in 11 years, and Federal Reserve Chairman Jerome Powell left the door open for yet another cut later this year.

Source: https://www.npr.org/2019/09/18/761689949/fed-eyes-another-interest-rate-cut-to-prop-up-the-slowing-economy