Reported about 9 hours ago
The Federal Reserve has cut interest rates by 0.25% for the first time in 2025, projecting two additional cuts by the end of the year amid a softening labor market and rising unemployment rates. Fed Chair Jerome Powell emphasized the importance of assessing economic impacts before making changes, despite some internal disagreement over the extent of the cut. The latest economic predictions show inflation holding steady at 3.1% while GDP growth is slightly upgraded, signaling cautious optimism amidst ongoing economic uncertainties.
Source: YAHOO