the Federal Reserve Cut Interest Rates
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Kimmel pulled off air, Fed's next steps, Nvidia's Intel investment and more in Morning Squawk
Fellow no-frills air carrier Frontier also made news yesterday. CEO Barry Biffle dismissed his United Airlines counterpart's argument that the budget airline model is a thing of the past. Biffle's exact choice of words: "That's cute."
The quarter point cut announced Wednesday, which puts the monetary body’s target rate in the 4.0% to 4.25% range, is the first since last December when the Fed’s rate-setting Open Market Committee made the last of three straight interest rate reductions to end the year, shaving 100 basis points off its benchmark intra-bank overnight lending rate.
Who should control America’s money supply: the experts, or elected representatives of the people? President Donald Trump has made moves to influence the central bank, but experts said that could cause issues.