Jerome Powell announces interest rate cut
Federal Reserve Chairman Jerome Powell announced that the Fed will cut interest rates for a second time this year. The federal funds rate, which controls the cost of mortgages, credit cards and other borrowing, will now hover between 1.75% and 2%.
01:50 - Source: CNN
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Federal Reserve Board Chairman Jerome Powell speaks at a news conference after a Federal Open Market Committee meeting on September 18, 2019 in Washington, DC. - The US Federal Reserve cut its benchmark interest rate for the second time this year on Wednesday but the policy committee is divided, with three of the 10 voting members dissenting.The central bank also moved to ease concerns about a cash crunch on financial markets by adjusting its key policy tool to help pump more funds through the financial plumbing. (Photo by Olivier Douliery / AFP)        (Photo credit should read OLIVIER DOULIERY/AFP/Getty Images)
Jerome Powell announces interest rate cut
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