Feds Cut Interest Rate Again

WASHINGTON (AP) – 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 action was approved on a 7-3 vote, with two officials wanting to keep rates  unchanged and one arguing for a bigger half-point cut. It was the largest number of Fed dissents in three years.