Fed slashes rates by 50 basis points, forecasts continued rate cuts

NAMPA / DPA

2024-09-18

Washington (dpa-AFX) - The US Federal Reserve on Wednesday announced its widely expected decision to lower interest rates for the first time in over four years, aggressively slashing rates by half a percentage point. With the Fed saying officials have gained greater confidence inflation is moving sustainably toward its 2% target, the central bank lowered the target range for the federal funds rate by 50 basis points to 4.75% to 5%. The Fed was al......

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