Home / News / Jerome Powell announces federal interest rate cut | USA TODAY

Jerome Powell announces federal interest rate cut | USA TODAY



Jerome Powell, Chairman of the U.S. Federal Reserve, announces a cut to the benchmark interest rate Wednesday by a quarter percentage point for the third time in the past three months.

RELATED: How do Federal Reserve interest rate changes affect your finances? https://www.youtube.com/watch?v=6z8OIAyXHow

The reduction, to a range of 1.5% to 1.75%, would undo just a third of the Fed’s nine rate hikes from late 2015 through last year. The U.S. central bank is likely to provide some clues to help answer that question after a two-day meeting that ends Wednesday, though it almost certainly will keep its options open and dependent on economic data.

Economists are divided on whether Fed officials will leave the door wide open to another cut at their next meeting in December or hint that they’re inclined to pause.

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4 comments

  1. The last thing we need is a rate cut. But we do need more cowbell.

  2. Yeah this doesn't bode well, you dont cut rates in a good economy.

  3. Just cut it to zero…free money everybody. Want to start a business? Here ya go….doesn't do well? Just file bankruptcy, like Trump repeatedly has! Its the American way!

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