Source: United States & Canada – South China Morning PostThe US Federal Reserve on Wednesday announced its second consecutive quarter-point rate cut to bolster the flagging labour market, in a move that highlighted the growing division in its ranks.
Policymakers voted 10-2 in favour of lowering the bank’s key lending rate to between 3.75 per cent and 4.00 per cent, the Fed said in a statement.
Opposed to the action were Fed governor Stephen Miran, who backed a bigger half-point cut, and Kansas City Fed president Jeff Schmid, who “preferred no change…Read More