by Rachel Lynn Aldrich
Posted 9/19/19, 11:39 am
The Federal Reserve on Wednesday approved the second cut this year to its benchmark interest rate. In an attempt to respond to the uncertainty caused by the trade war with China and a slump in U.S. manufacturing, the Fed reduced its key short-term rate by an additional quarter-point to a range of 1.75 percent to 2 percent. Right now, economic expansion looks pretty durable, with a solid job market and steady consumer spending.