AP Economics Writer
WASHINGTON (AP) — The Federal Reserve cut short-term interest rates Wednesday for a third time this year to try to support the economy. But it signaled that it plans no further cuts unless it sees clear evidence that the economic outlook has worsened.
For now, Chairman Jerome Powell sounded a bullish note about the economy in a news conference after the Fed's latest policy meeting. Despite some signs of weakness, the Fed expects growth to continue and the job market to remain strong.
Since spring, manufacturing output has stumbled amid trade tensions and slower global growth, while businesses have cut spending on large equipment. But Powell stressed that the Fed doesn't see those trends weakening the broader economy. Instead, steady hiring is