Federal Reserve cuts interest rate for third time this year in effort to boost U.S. economy

The Federal Reserve reduced the benchmark U.S. interest rate for the third time this year Wednesday in an effort to boost the economy as the trade war and a global slowdown threaten to drag the U.S. economy down.

Fed leaders have stressed that they do not see a recession on the horizon. Instead, they have sought to portray these rate reductions as “insurance” cuts that are meant to give the economy extra protection in a world of rising uncertainty.

Full article at: The Washington Post

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