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

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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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