Federal Reserve poised to reduce its benchmark rate

President Trump tweets: “A small rate cut is not enough”

The world’s most powerful central bank is poised to cut its benchmark rate for the first time since 2008. The reasons couldn’t be more different.

Back then, the economy was in freefall after a spike in foreclosures deflated the value of bonds backed by home loans. This time, more than a decade later, Federal Reserve policymakers aren’t dealing with a financial crisis. They’re trying to keep the nation’s longest expansion from petering out.

The Fed’s policy-setting Federal Open Market Committee, or FOMC, has a two-day meeting that starts on Tuesday. On Wednesday at 2 p.m. it will issue a statement with its decision on whether to maintain or change its overnight lending rate, an important benchmark for financial markets.

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