Federal Reserve leaves interest rates unchanged and foresees no moves in 2020
The Fed's decision follows three rate cuts earlier this year.
Watch 2:15
Remembering former Fed chair and economic giant Paul Volcker
Paul Volcker, who served as chair of the Federal Reserve for two presidents, died Monday. His passing came 40 years after he drove interest rates to record highs in an effort to tame double-digit inflation. Known for his height and…
Trump summons Powell to discuss interest rates
Monday’s meeting could fuel concerns that the White House is intensifying public pressure on Jerome Powell -- who was President Donald Trump’s own choice to lead the Fed -- to cut rates more aggressively.
WATCH: Federal Reserve cuts benchmark interest rate
The Fed's move reduces the short-term rate it controls — which influences many consumer and business loan rates — to a range between 1.5% and 1.75%.
In his brief remarks, Jerome Powell gave no hint on whether the Fed will cut interest rates for a third time this year when it meets later this month. Watch a Federal Reserve panel discussion live in our player.
If a recession hits, the Fed might need to lower rates below zero, which could cause other problems in the financial system.
The Federal Reserve has cut interest rates for the second time in three months in a bid to keep the U.S. economy growing. What indicators are driving the recent rate reductions, and what is the larger influence of economists on…
The Fed’s reduction of the federal funds rate is only one of many factors that affect the U.S. economy, but it can still trigger shifts that trickle down into Americans’ finances.
The Fed's move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%.
Additional Support Provided By:
