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Fed Cuts Key Interest Rate by a Quarter Point

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Fed Cuts Key Interest Rate by a Quarter Point

Business

Fed Cuts Key Interest Rate by a Quarter Point

Fed Cuts Key Interest Rate by a Quarter Point

  • Download
  • <iframe src="https://www.npr.org/player/embed/1310620/1310621" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Federal Reserve policymakers today vote to slash short-term interest rates by a quarter of a percentage point, bringing the federal funds rate to 1 percent — the lowest point in 45 years. The cut is aimed at giving the sluggish economy a jolt, but it was less than many economists had expected. NPR's Jim Zarroli reports.