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Federal Reserve Cuts Interest Rates for Third Time in 2019

October 30, 2019

The Federal Reserve cut interest rates Wednesday for the third time this year as slowing business investment, ongoing trade tensions and global weakness continued to weigh on the American economy.

But the Fed signaled that it will pause and assess incoming data before it considers lowering borrowing costs again. Fed Chair Jerome H. Powell said that while “there’s plenty of risk left,” some of it has subsided, pointing to the potential for a limited trade deal between the United States and China and a negotiated exit for Britain from the European Union.

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