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Fed Powell cuts rates for the first time this year.
Powell: This is "a risk-management cut."
President Donald Trump signed an executive order to extend TikTok’s deadline until Dec. 16 for the sale of the app, postponing a nationwide shutdown. Earlier Tuesday, Trump told reporters he had "a deal on TikTok" with China as he departed the White House for a state visit to the UK, but didn't include the name of the companies involved. Recently, the US and China have been negotiating on a framework agreement for TikTok amid trade talks. President Xi Jinping and President Trump are expected to meet on Friday to discuss further details.
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Fed Powell cuts rates for the first time this year.
Fed Powell cuts rates for the first time this year. ♬ original sound - Yahoo Finance - Yahoo Finance
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