Fed approves quarter-point interest rate cut and sees two more coming this year

Federal Reserve cutting interest rates by a quarter point as expected to a new range of four to four and a quarter percent. New Fed governor and former CEO, current CE chair uh Steven Byron desenting in favor of 50 basis point cut. The median Fed official looking for two more rate cuts this year, but just barely.I'll get you details on that in a second. The statement importantly says the balance of risks have shifted. Downside risk to employment has risen.Job gains have slowed. Unemployment has edged up and ...