WASHINGTON — The Federal Reserve cut interest rates Wednesday for the third time this year as slowing business investment, ongoing trade tensions and global weakness continued to weigh on the American economy.
But the Fed signaled that it will pause and assess incoming data before it considers lowering borrowing costs again. Fed Chair Jerome H. Powell said that while “there’s plenty of risk left,” some of it has subsided, pointing to the potential for a limited trade deal between the United States and China and a negotiated exit for Britain from the European Union.
“Overall, we see the economy as having been resilient to the winds that have been blowing this year,” he said. Wednesday’s decision to cut rates for a third time was made “to help keep the U.S. economy strong in the face of global developments and to provide some insurance against ongoing risks.” » | Jeanna Smialek | Wednesday, October 30, 2019
