Federal Reserve cut interest rates by 0.5 percentage points, initiating its first easing campaign in four years.
The Federal Reserve has reduced interest rates by 0.5 percentage points, marking the start of its first easing campaign in four years. This decision aims to address concerns about the job market while indicating confidence that inflation is moving towards the 2% target. The Fed's rate-setting committee stated that risks to employment and inflation goals are balanced, though Governor Michelle Bowman disagreed, advocating for a smaller cut.
September 18, 2024
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