Federal Reserve made a historic 0.5% interest rate cut due to divided opinions on inflation and labor market.
Minutes from the Federal Reserve's September meeting revealed a divided stance on interest rates, leading to a historic 0.5 percentage-point cut, the largest since 2008. While many officials supported this move to address inflation and bolster the labor market, some favored a more gradual 0.25 percentage-point reduction. Despite the mixed opinions, the cut has contributed to a stock market rally, with the S&P 500 nearing all-time highs.
October 09, 2024
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