Fed Chair Powell says interest rate cut made to maintain strong U.S. economy

Sept. 18 (UPI) -- Federal Reserve Chair Jerome Powell said during a Wednesday press conference that the first interest rate cut since 2020 is designed to maintain the strong U.S. economy.

"The U.S. economy is in a good place and our decision today is designed to keep it there," Powell said. "Our intention is to maintain the strength we currently see in the U.S. economy."

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