Federal Reserve Cuts Interest Rates by Larger-than-Expected Margin ...Middle East

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Federal Reserve Cuts Interest Rates by Larger-than-Expected Margin
source : Devdiscourse ( Middle East ) () 88
The U.S. central bank on Wednesday launched an anticipated series of interest rate cuts with a significant half-percentage-point reduction, signaling a commitment to maintaining low unemployment now that inflation pressures have decreased. Federal Reserve Chair Jerome Powell emphasized the strength of this initial move during a press conference, underscoring the bank's increased confidence in overcoming inflation. The benchmark policy rate has now been reduced to the 4.75%-5.00% range, aiming to stay ahead of potential job market weakening.

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