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The federal spending bill being negotiated by House and Senate leaders is not likely to include an extension of the $7,500 tax credit for buyers of electric vehicles.
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The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
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NADA Chairman Charlie Gilchrist voiced his support for the United States-Mexico-Canada Agreement in remarks at a press event. The Texas dealer urged Congress not to ignore the ‘reality’ of an auto industry built on favorable relationships among the three nations.
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Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
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Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
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