The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers.
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Full story: https://www.nbcmiami.com/news/national-international/federal-reserve-interest-rate-cut/3420542/
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News post in September 19, 2024, 3:02 pm.
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