The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market.
WASHINGTON — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years ofThe rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing. Coming just weeks before the presidential election, the Fed’s move also has the potential to scramble the economic landscape just as Americans prepare to vote.
The Fed’s next policy meeting is Nov. 6-7 — immediately after the presidential election. By cutting rates this week, soon before the election, the Fed is risking attacks from Trump, who has argued that lowering rates now amounts to political interference. Yet Politico has reported that even some key Senate Republicans who were interviewed expressed support for a Fed rate cut this week.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve cuts key rate by sizable half-point, signaling end to its inflation fightWASHINGTON — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation bu...
Read more »
Federal Reserve cuts key interest rate by sizable half-point; first cut since 2020In a dramatic shift, the Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point.
Read more »
Federal Reserve cuts interest rates by half-point, signaling end to inflation fightComing just weeks before the presidential election, the Fed’s move also has the potential to scramble the economic landscape just as Americans prepare to vote.
Read more »
Federal Reserve cuts key interest rate by a half-pointIt marks a crucial milestone for the central bank’s historic inflation fight, which kept rates at a bruising 23-year high for more than a year.
Read more »
Federal Reserve slashes key rate by half-point, signals end of inflation battleThe Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for consumers.
Read more »
Federal Reserve cuts interest rates by half-point; first rate reduction in four yearsThe Federal Reserve announced the first interest rate cut in four years at its September policy meeting amid progress in slowing down the pace of inflation toward its 2% goal.
Read more »