The Federal Reserve reduced the benchmark interest rate Wednesday for the first time in more than a decade, lowering it by a quarter-point to just below 2.25 percent in an effort to bolster the U.S. economy amid early signs of a global slowdown.
However, the central bank also inadvertently caused confusion about what it plans to do next, disquieting the stock market.
In a news conference, Fed Chair Jerome H. Powell said the Fed was going to do whatever it takes to “sustain the expansion,” but he stopped short of committing to a series of rate reductions as Wall Street and President Trump have demanded.
View the complete July 31 article by Heather Long on The Washington Post website here.