Reported 20 days ago
The Federal Reserve has reduced the federal funds target rate by 50 basis points to a range of 4.75% to 5.00%, marking its first rate cut in four years. The Federal Open Market Committee stated that there is now greater confidence in inflation moving sustainably towards 2%, with balanced risks to employment and inflation goals, despite an uncertain economic outlook. Projections indicate further rate cuts may follow this year and into 2025.
Source: YAHOO