The Federal Reserve cut interest rates for the third time this year. WSJheard explains how its subtle change in language sent markets the vague message it was looking for. WSJWhatsNow
Sometimes the most appropriate thing to do is to say you aren’t going to act appropriately anymore.
So it was with Federal Reserve officials who, at the conclusion of their policy-setting meeting Wednesday, announced that they were lowering their target range on overnight interest rates by a quarter point for the third time this year.
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