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Stock impact report

Fed cuts key interest rate as big firms lay off thousands and inflation creeps higher [MSNBC.com]

M&T Bank Corporation (MTB) 
Last m&t bank corporation earnings: 4/20 06:37 am Check Earnings Report
US:NYSE Investor Relations: finance.yahoo.com/quote/m
Company Research Source: MSNBC.com
The Federal Reserve on Wednesday cut its benchmark interest rate for the second time this year as it seeks to boost economic activity and rejuvenate the sluggish labor market despite concerns about persistent inflation.But far from having a clear way forward, disagreements within the Fed's policy-setting committee and warnings from Chair Jerome Powell highlight the complicated challenges that the U.S. central bank faces from an economy that offers little certainty."What do you do if you’re driving in the fog?" Powell asked at a press conference following the Fed's announcement. "You slow down."The Fed's cut of a quarter of one percent from the bank's benchmark interest rate could bring financial relief to consumers and businesses in the form of lower borrowing costs. But it also carries risks as inflation ticks up.In itsstatementPowell cautioned in the press conference that the government shutdown, which started Oct. 1, would weigh on economic activity as it drags on, although he said Show less Read more
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