Economic researcher explains fed rate cut’s impact of Las Vegans, southern Nevada industry
LAS VEGAS — The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market.
The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%.
The decision saw only one dissent from Fed policymaker Stephen Miran, a recent appointee by President Donald Trump.
The Fed is facing both a challenging economic environment and threats to its traditional independence from day-to-day politics.
Dr. Stephen Miller, research director for UNLV’s Center for Business and Economic Research, joined ARC Las Vegas and Evan Schreiber to ‘make it make cents’ for southern Nevada.