Archive for September, 2019

Fed makes 2nd consecutive rate cut

The Federal Reserve has reduced the benchmark overnight lending rate by a quarter percentage point to a range of 1.75% to 2%. Chairman Jerome Powell says that prospects for the US economy are favorable and that any future interest-rate adjustment would be made "meeting by meeting." Read full story Read more

OECD forecasts slowest global growth in 10 years

The Organization for Economic Cooperation and Development is projecting global economic growth of 2.9% this year, the smallest annual increase in 10 years, as the US-China trade conflict continues. The OECD downgraded its forecast for the US and now expects GDP growth of 2.4% in 2019. Read full story Read more

Interest rates expected to be cut by a quarter point

Another rate cut from the Federal Reserve is expected when the central bank meets in two weeks, and it could be a quarter-point decrease. Opinions among the Fed's bank presidents differ, with some saying no additional rate cuts are needed and Federal Reserve Bank of St. Louis President James Bullard calling for a bigger cut. Read full story Read more