Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Fed cuts key rate in its first reduction in more than decade


August 1, 2019

WASHINGTON — The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump's trade wars to chronically low inflation and a dim global outlook.

The Fed also repeated a pledge to "act as appropriate to sustain the expansion" — wording that the financial markets have interpreted as a signal of possible future rate cuts.


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