JUST IN: The Federal Reserve cut interest rates by a quarter of a percentage point for the third time this year.
For the third time this year, the Federal Reserve on Wednesday cut interest rates by a quarter of a percentage point.
The U.S. Department of Labor, in its most recent jobs report, said unemployment rates have fallen to their lowest level in 50 years. With these recent positive economic indicators, some have questioned why the Fed continues to lower interest rates.-The unemployment rate has been sub-4% for more than a year-The stock mkt is at ATHs again & up 15 out of the last 17 yrsJust last month, the Fed announced that it was lowering interest rates by a quarter of a percentage point. Powell said at the time that the cut was to"provide insurance against ongoing risks," citing slower growth abroad and global trade uncertainty.
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