Mexican Media Brands
Fed Cuts Interest Rate for 3rd Time in 6 Months
As expected, the Federal Reserve has lowered its benchmark interest rate by one-quarter point to a range of 1.5% to 1.75%.
#economics
Share
As expected, the Federal Reserve has lowered its benchmark interest rate by one-quarter point to a range of 1.5% to 1.75%.
Yesterday’s reduction was the third quarter-point downturn in four months. Last year the Fed raised rates four times in quarter-point increments. The central bank says it won’t make further cuts unless the U.S. economy falters or the job market weakens.
Analysts note that the Fed’s position has shifted since July from planning to cut rates unless conditions improve to planning not to cut rates unless conditions worsen. The distinction sets a higher hurdle for future reductions.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.