Fed scraps ‘patient’ rate approach in prelude to potential cut

THE FEDERAL RESERVE left their key interest rate in a range of 2.25% to 2.5% on Wednesday. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
THE FEDERAL RESERVE left their key interest rate in a range of 2.25% to 2.5% on Wednesday. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
WASHINGTON – The Federal Reserve indicated a readiness to cut interest rates for the first time in more than a decade to sustain a near-record U.S. economic expansion, citing “uncertainties” in their outlook. While Chairman Jerome Powell and fellow policy makers left their key rate in a range of 2.25% to 2.5% on Wednesday, they…

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