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China just took another step to boost its struggling economy — but experts say it needs to do far more
China's industrial output growth slowed to 17 and a half-year low in August as the trade war continued to hurt producers.
This week marked the first time the central bank has taken such steps since the global financial crisis 10 years ago.
The Fed cut rates by 25 basis points to counter slowing growth and the trade war, saying "moderate" action is enough for now. Oil rose 0.7% to about $64.
Borrowers may see interest rates down on credit cards, variable rate student loans, auto loans, small business loans, and home equity lines of credit.
When the Fed cuts interest rates, it affects everything from your savings account to your auto loans
When the Fed cuts interest rates, it's to encourage spending and growth, and it affects everything from savings accounts to mortgages to loans.
The Fed cuts rates for 2nd time since financial crisis — but defies Trump’s calls for ‘big’ stimulus
The move was broadly in line with expectations but far from the aggressive stimulus President Donald Trump has demanded in recent weeks.
The Fed just pumped $128 billion into markets to pull down interest rates, its first injection in 10 years
The move comes after the amount of cash banks have on hand for short-term funding dried up earlier this week.
The White House has called for aggressive interest-rate cuts, ranging from a half a percentage point to nearly four times that amount.
President Donald Trump lashed out at Federal Reserve officials once again early Monday, a day before the start of a pivotal monetary policy meeting.
According to loan-comparison site Credible, interest rates for student loan refinancing have hit a 12-month low, making now a good time to refinance.