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In September, Reps. French Hill (R-Ark.) and Bill Foster (D-Ill.) said the central bank should consider a cryptocurrency to remain competitive.
The cut had been widely anticipated by forecasters and investors but fell short of White House demands for aggressive stimulus measures.
The comment was an escalation in a long-running pressure campaign the Trump administration has waged against the US central bank.
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.
President Trump has ramped up calls for negative interest rates. Here’s what they are, and why they matter.
The European Central Bank cut interest rates below zero for the first time in 2014 following the region's debt crisis.
Chinese factories face weaker demand and may be "exporting deflation by cutting prices and making it even harder for central banks" like the ECB.
Former Fed official Bill Dudley urges the central bank not to embolden Trump on trade or his 2020 re-election bid
The highly unusual warning came after a week of head-spinning trade escalations between the largest economies.
Trump lashes out after Fed chief Powell signals the central bank won’t cut rates as much as White House wants
With Fed officials divided on whether to further lower interest rates, investors hung onto every word Powell said Friday.