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Fed Cuts Interest Rates for First Time Since 2008

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“In the biggest Fed decision since 2015, the Federal Reserve said on Wednesday it would slash its benchmark interest rate by a quarter point, as expected,” Axios reports.

“While previous Fed regimes have cut rates when the economy was not in the throes of a recession, it’s still a rare move — one that will likely be a legacy-shaping milestone in Jerome Powell’s tenure as Fed chairman.”

The New York Times says the cut “is meant to protect the economy against the potentially harmful effects of a growth slowdown in China and Europe and uncertainty from President Trump’s trade war.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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