New York, Sept 18, 2024 (AFP) - US stocks dip despite larger Fed interest rate cut

NAMPA / AFP

2024-09-19

Wall Street stocks dipped Wednesday after the Federal Reserve announced a half a percentage-point interest rate cut and its chair promised a "careful" approach to lowering rates following progress in countering US inflation. Policymakers voted 11-to-1 in favor of dropping the central bank's benchmark rate to between 4.75 percent and 5.00 percent. The Fed went with the bigger rate cut, surprising some analysts who had tapped a quarter-point decrea......

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