Senate Panel Approves Nominations for Two Fed Board Seats
Courtesy: MGN, Federal Reserve
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The central bank cut its benchmark rate - which affects many loans for households and businesses - by a quarter-point to a range of 2% to 2.25%.
President Donald Trump is continuing efforts to pressure the U.S. central bank system, saying the stock markets and economic growth would be much higher if not for its actions.
The Federal Reserve expects inflation to finish this year noticeably below its 2% target, a trend that could make it more likely policymakers will cut short-term interest rates in the coming months.
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