The daily business briefing: August 1, 2019
1.
The Federal Reserve announced its first interest rate cut in a decade on Wednesday at the close of a two-day policy meeting. The quarter-point rate reduction was widely expected, because Fed Chair Jerome Powell and other central bank leaders had signaled that they would do what was necessary to keep the record-long U.S. economic expansion going. Stocks plunged, however, after Powell called the reduction a "midcycle adjustment," suggesting that more rate cuts were not guaranteed. "Let me be clear ... Читать дальше...