Fed slashes interest rates by quarter point for third time in a row

The Federal Reserve on Wednesday slashed interest rates by a quarter point even as officials remain conflicted over whether to prioritize stubborn inflation or weakness in the labor market.Although they did not reach a full consensus, central bankers lowered rates to a new range of 3.5% to 3.75% as they remain more concerned about underlying strain in employment.Austan Goolsbee and Jeffrey Schmid opposed the cut, while Stephen Miran voted for a half-point cut.The Federal Reserve on Wednesday slashed interes ...