Federal Reserve cuts federal funds rate to 1%

Statement from the Federal Reserve released 25 June on the decision to lower the federal funds rate by 25 basis points to 1 percent.

Source: Federal Reserve

The Federal Open Market Committee decided today to lower its target for the federal funds rate by 25 basis points to 1 percent. In a related action, the Board of Governors approved a 25 basis point reduction in the discount rate to 2 percent.

The Committee continues to believe that an accommodative stance of monetary policy, coupled with st