Reported 20 days ago
The Federal Reserve has lowered its interest rates by half a percentage point, marking its first cut since 2020. This decision, which came with a split vote among officials, sets the new benchmark rate at 4.75%-5.0% and signals plans for two additional rate cuts this year, with further reductions planned into 2026. Fed Chair Jerome Powell highlighted the importance of this move amid a cooling job market, despite some dissent within the governing body.
Source: YAHOO