Alva Review-Courier -

Fed cuts key rate in its first reduction in more than decade

 

August 1, 2019



WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump's trade wars to chronically low inflation and a dim global outlook.

The Fed also repeated a pledge to "act as appropriate to sustain the expansion" — wording that the financial markets have interpreted as a signal of possible future rate cuts.

Stocks tumbled soon after the Fed issued its statement at 2 p.m. Eastern time. The Dow Jones Industrial Average, which had been nearly flat before the announc...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019