U.S. Federal Reserve cuts interest rates by 50 basis points - Trending News
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The U.S. Federal Reserve cut interest rates by 50 basis points on September 19, 2024, amid cooling inflation and a weakening labor market; this decision follows 11 consecutive rate hikes starting in March 2022, raising the federal funds rate to between 5.25% and 5.5%, the highest in over two decades; critics argue the Fed was slow to act; Dean Baker, a senior economist, anticipates another cut in the next meeting; rate cuts may boost home sales and economic activity, and could positively impact the stock market; the announcement comes less than 10 weeks before the presidential elections, with differing interpretations expected from Donald Trump and Kamala Harris.
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https://www.tvcnews.tv/2024/09/u-s-fed-cuts-interest-rates-by-50-basis-points/
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