Fed Cuts Rates by a Quarter Point, Second Straight Reduction

With that Fed decision. Here's Mike McKay. A divided Fed cuts their benchmark lending rate by a quarter percentage point and says they are going to end cut December 1st.There are two dissents as policymakers reset the target range to three, three quarters and 4%. No surprise, Steven Byron dissents in favor of a 50 basis point cut as President Trump wants. And Kansas City Fed President Jeffrey Schmitt dissents on the other side in favor of no move.The Fed's administered rates for interest on reserves and the ...