Fed Cuts Interest Rates for Third Time in 2019

The Federal Reserve announced Wednesday that it will be cutting the benchmark interest rate to a range of 1.5%-1.75%. This is the third rate cut in 2019, and the ninth since 2015. Unlike earlier this year, Chairman Jerome Powell's statement indicated that the Fed is unlikely to cut rates further in the near term. Powell stated, "We see the current stance of policy as likely to remain appropriate as long as incoming information about the state of the economy remains broadly consistent with our outlook." Read more.