The Fed cut rates for the first time since 2008 – CNN

Washington (CNN Business)The Federal Reserve on Wednesday lowered interest rates for the first time since the Great Recession in 2008 to help stave off the possibility of an economic downturn.

Policymakers led by Fed Chairman Jerome Powell voted 8-2 in favor of a small cut in the federal funds rate, and recommitted to their promise to “act as appropriate” to sustain the country’s longest economic expansion in history.

Source: The Fed cut rates for the first time since 2008 – CNN

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