Federal Reserve cuts rates for the first time this year - CNN

[TexasTowelie]

The Federal Reserve cut its benchmark interest rate for the first time since December, lowering the rate by a quarter of a percentage point, matching Wall Street expectations. The Fed signaled more cuts are likely this year.

CNN senior reporter Matt Egan reports from Federal Reserve headquarters, and CNN's Boris Sanchez speaks with Aaron Klein, deputy Treasury secretary in the Obama administration.

[Bluestocking]

1. Because the economy is tanking!!!