Feds Cut Interest
Rates for First Time
Since 2008.
Fed Chairman Jerome Powell
led the 8-2 vote in favor of
the small interest rate cut.
Rates will hover
between 2% and 2.25%.
The decision was
made to help the economy
continue its expansion.
The cut follows months
of unprecedented
public pressure from
President Donald Trump.
Trump has often
criticized Powell
for making "all
the wrong moves.".
Chairman Powell stated
that Trump's pressure
did not play a factor in the
decision of the Federal Reserve.
He also stated that more
cuts could be in the future,
but a cycle of cuts
would be short-lived.