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In first cut in 4 years, US Fed slashes rates by larger 50bps

IndiaTimes Wednesday, 18 September 2024 ()
The US Federal Reserve has lowered its benchmark interest rate by half a percentage point to bolster the labour market. The new rate range is now 4.75% to 5%. Further cuts are expected in 2024 and 2025 as policymakers balance inflation and employment goals amid rising economic uncertainties.
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News video: US Fed rate cut splits opinions just weeks before election

US Fed rate cut splits opinions just weeks before election 01:48

 New Yorkers share their thoughts as the US Federal Reserve cut its key lending rate by half a percentage point in its first reduction for more than four years. Wall Street shares bounced at the open after falling the previous day, even though the Fed's rate reduction that many investors had hoped for...

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