Fed Cuts Interest Rates For The First Time In Four Years
The
The decision follows a notable decline in inflation since its peak in summer 2022, although many Americans still face elevated costs for essentials like groceries, fuel, and rent.
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Throughout 2022 and 2023, the Fed raised rates at 11 consecutive meetings to combat rising prices, targeting an inflation rate of about 2%. As of August, inflation has dropped to 2.5%, the lowest since
With the presidential election approaching, the strength and direction of the economy are critical issues for voters. Some Democratic senators urged the Fed to act sooner, arguing that delays have threatened economic stability. Political scrutiny is expected, particularly with
Other central banks globally, including the
Insurer disputes damning whistleblower claims from ā60 Minutesā report; Dems call for action
Federal Reserve chops key interest rate by a sizable half-point, turns focus to more jobs
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