Fed cuts interest rates
Publish Date : 2019/08/01 - 04:49

The Fed cuts interest rates by 25% on Wednesday, as expected, but Jerome Powell also pointed out that the move was not suitable for long-term support of the economy and for combating global weakness.

He reiterated that trade tensions between the US and China have led to slowing economic growth.

“Let me be clear – it’s not the beginning of a long series of rate cuts,” Powell said in his conference. At the same time, he said, “I didn’t say it’s just one rate cut.”

Source: Reuters

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