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The Fed's Decision to Cut Interest Rates
Aug 2, 2019 at 02:02 PM

The Quick Facts

  • On Wednesday, July 31st, the Federal Reserve lowered interest rates for the first time since the Great Recession in 2008.
  • The Fed led by Chairman Jerome Powell voted 8-2 to cut interest rates by 25 basis points. Rates will now hover between 2% and 2.25%.
  • When announcing the cut, Powell explained: "The outlook for the U.S. economy remains favorable and this action is designed to support that outlook..."
  • President Trump has repeatedly encouraged the Fed to lower interest rates, but Powell has been adamant that the President's opinions did not sway the Federal Reserve's decision.

Food For Thought

Did the Federal Reserve make the right decision? What are the arguments for and against the rate cut?

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