Fed cuts key interest rate again, shaving a quarter-point

The Federal Reserve is cutting rates for a second time this year while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion.
The Fed’s move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%. The Fed’s key rate influences many consumer and business loans.
The economy appears durable in its 11th year of growth, with a still-solid job market and steady consumer spending. But the Fed is trying to