Fed cuts interest rates for the first time since 2008

UNITED STATES, WASHINGTON (VOP TODAY NEWS) — The Federal Reserve has decided to cut interest rates by a quarter percentage point for the first time since October 2008.

The US Federal Reserve said in a statement this evening that it cut interest rates on federal funds to the range of 2-2.25%, compared with 2.25 and 2.50%.

He said that information since the meeting of the Open Market Committee in June, indicates that “the labor market is still strong, economic activity has risen at a moderate rate, and unemployment remained low.”

The US president, Donald Trump, preempted the Fed’s decision, attacking them: “A small cut in interest rates is not enough”;

“Given the implications of global developments on economic expectations, as well as the pressures of silent inflation, the committee decided to reduce the target range of the federal interest rate to the range of 2 and 2.25 percent,” the statement said.

The Federal Reserve confirmed that the decision to cut interest rates supported his view that the continued expansion of economic activity, strong labor market conditions and inflation close to the target of 2 percent, are the most likely results, but remain uncertain about these expectations.

According to the “Anatolia” track of the interest rate course, the Fed has carried out 9 increases since December 2015, up from the 0-0.25 percent range.

In the interest rate decision, the US Fed relies on three key elements: the strength of the labor market (job creation), the CPI (inflation), and domestic and global economic growth.

The growth of the US economy slowed to 2.1 percent in the second quarter of 2019, from 3.1 percent in the previous quarter.

Online:

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: voiceofpeopletoday@gmail.com

VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Stay connected with VOP Today News on Twitter – VOP Today News on Facebook, also with our online services http://j.mp/2hDUK4x and never lost the breaking news stories happening around the world.

Support The VOP from as little as $1 – it only takes a minute. Thank you.

We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.