Fed Cuts Rates as Leaders Clash Over Economy

The U.S. Federal Reserve cut its key interest rate on December 10. The move lowers borrowing costs for consumers and businesses. The decision was not unanimous. Officials publicly disagreed about the health of the American economy. This division highlights uncertainty at the central bank. The rate cut of 0.25% is the third this year. The Fed signaled a pause in further cuts for now. The action comes as President Donald Trump prepares to name a successor to current Fed Chair Jerome Powell. Trump has frequently criticized Powell's policy decisions. The leadership change could shift the central bank's approach in 2020.