Federal Reserve Chairman Jerome Powell holds a news conference following a closed two-day Federal Open Market Committee meeting in Washington, September 18, 2019.
Sarah Silbiger | Reuters
Stocks were slightly lower and bond yields were near lows of the day after the Fed signaled a pause when it said it would move to “assess” its interest rate policy, rather than “act as appropriate” to adjust rates.
The Fed cut interest rates by a quarter point, as expected, and removed language from its statement, saying it would “act as appropriate” to sustain the recovery. It now says it “will assess the appropriate path of the target range” for fed funds.
The rate cut was its third in so many meetings,…