Reported 12 days ago
The Federal Reserve has reduced its key interest rate by a quarter point to a range of 4.25% to 4.5%, the lowest since February 2023, as part of its strategy to stimulate the economy and counter potential unemployment rises. This marks the third rate cut in consecutive meetings, moving away from a two-decade high, but future cuts are expected to be more cautious due to persistent inflation exceeding the 2% target. Fed officials aim to balance economic stability while monitoring inflation trends as they navigate potential rate adjustments.
Source: YAHOO