The Federal Reserve degraded short-term interest rate for the sixth time in the past six months on Tuesday as its continuous attempt to strengthen the economy. The central bank shortened its federal funds rate by three-quarters of a percentage point to 2.25% for overnight loans and left the option for future cuts in the upcoming months. Although, this cut was the biggest one-day cut in decades, the investors were expecting a full percentage point in regards to the possible recession and financial crisis that the country is facing right now. However, some members of the Fed's policy-making committee expressed their dissatisfaction over this cut, siding with an even smaller cut while conveying concerns over possible recession. Some view this as a deal to calm those who favored less while others guessed this cut by the Fed was particularly low due to Fed's alternative to get away from zero percent.
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