Fed Cuts Interest Rates to 2.25%

According to the Washington Post, the Federal Reserve cut interest rates by a quarter-point, the first time the Fed has done so since 2008.

The Post reported the cut comes during the early days of an economic slowdown, though the economy as a whole is still growing.

The Post noted Fed Chair Jerome Powell has made no further commitments to deepen the cuts, and previous Fed officials have commented that only one rate reduction is needed.

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