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December 6, 2019
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CBS US News

Federal Reserve Chairman Jerome Powell hints to Congress: No more interest rate cuts this year

CBS News
Washington — Federal Reserve Chairman Jerome Powell expects the U.S. economy to continue growing at a solid pace, though it still faces risks from slower growth overseas and trade tensions. Powell also said the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless...
CBS US News

Fed rate cut announced Wednesday, a nod to slowing economic growth

CBS News
The Federal Reserve is lowering its benchmark interest rate for the third time this year in a bid to shore up U.S. economic growth. Wall Street largely expected the cut of 0.25 percentage points, which brings the Fed’s target rate to a range of 1.5% to 1.75%. Less clear is...
CBS US News

Average retail credit card’s interest rate surges to 26% — despite Fed cuts

CBS News
Shopping for bargains at discount stores makes financial sense, so long as one isn’t running up a tab on a store-branded credit card with an exorbitant interest rate.  While the Federal Reserve recently cut interest rates again in a bid to boost U.S. economic activity by lowering borrowing costs, that...

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