Divided Fed cuts rates again but signals limited cuts ahead
The Fed trimmed its benchmark rate to 1.75 to 2.0 percent in a 7-3 vote, with divisions over further cuts this year. Powell indicated potential later easing amid trade war and global slowdown, while officials forecast modest growth and few cuts in 2020. Trump criticized the move, calling for bigger cuts.
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Fed cuts rate again. muted impact on personal finances
The Federal Reserve trimmed its benchmark rate to 1.75 to 2.00 percent, a move experts say will likely barely boost consumer finances. Mortgage rates hover near historic lows, potential savings from refinancing exist, while credit card rates may not fall immediately. Savings rates remain very low, and savers should still advance debt payoff and emergency reserves.
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Markets wobble after central bank rate cut signals unsure path
Stocks edged lower on the week as the Fed cut rates but offered no clear guidance on further cuts. Major indexes showed mixed moves with the S&P 500 near 3,000, the Dow up slightly, and the Nasdaq slipping. Oil prices fell while Brent dropped as fears of a slowing economy linger and tensions in the Persian Gulf rise. California approves labor law expanding protections for gig workers ahead of the 2020 ballot fight.
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