Divided Fed Votes To Cut Interest Rates Again Despite Mounting Objections From Rebel Faction
In a divided vote, Federal Reserve policymakers have decided to cut interest rates for the third time this year, with concerns about mounting job losses outweighing fears of renewed inflation. Fed Chair Jerome Powell joined the 9-3 majority on the Federal Open Market Committee to vote for the quarter-point rate cut at Wednesday’s meeting in Washington, DC. “In the…