19-09-2024, 12:24 PM
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The Federal Reserve cut its policy interest rate by half of a percentage point
19-09-2024, 12:28 PM
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.
The decision to ease came "in light of progress on inflation and the balance of risks." Notably, the FOMC vote was 11-1, with Governor Michelle Bowman preferring a quarter-point move. Bowman's dissent was the first by a Fed governor since 2005, though a number of regional presidents have cast "no" votes during the period.
https://www.nbcbayarea.com/news/business...s/3656074/
The decision to ease came "in light of progress on inflation and the balance of risks." Notably, the FOMC vote was 11-1, with Governor Michelle Bowman preferring a quarter-point move. Bowman's dissent was the first by a Fed governor since 2005, though a number of regional presidents have cast "no" votes during the period.
https://www.nbcbayarea.com/news/business...s/3656074/
03-10-2024, 10:10 PM
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