Fed cuts interest rates, signals holding pattern for now

Federal Reserve Chairman Jerome Powell holds a news conference following a closed two-day Federal Open Market Committee meeting in Washington, U.S., September 18, 2019. REUTERS/Sarah Silbiger

WASHINGTON (Reuters) – The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump. Describing the U.S. economic outlook as “favorable,” Fed Chair Jerome Powell said the rate […]

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