Federal Reserve's Rate Cut: A Balancing Act

The United States economy is in the middle of a record-long expansion. So why is the government deploying an economic weapon it last used during the 2008 financial crisis? Guest: Ben Casselman, who covers the economy for The New York Times. For more information on today’s episode, visit nytimes.com/thedaily.

Background reading:

• The Federal Reserve cut its benchmark interest rate for the first time in more than a decade as it tried to insulate the economy from President Trump’s trade war and a global slowdown.
• The quarter-point reduction is unlikely to get you a better mortgage rate. Here’s where you might see effects.

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