NBC News: Federal Reserve approves its first rate cut since 2008
The Fed is hoping to head off any impact on the U.S. from a global economy weakened by geopolitical tensions, Trump’s trade wars, and stalled growth.
The stock market is not responding positively to this news.
Highlight: “The outlook for the U.S. economy remains favorable and this action is designed to support that outlook,” says Fed Chair Jerome Powell. “It is intended to ensure against downside risks… and to promote a faster return of inflation… to our objective.” pic.twitter.com/kVMbm2It4g
— Yahoo Finance (@YahooFinance) July 31, 2019
