The Federal Reserve cut interest rates by a quarter of a percentage point, its first reduction in nine months, prompted by signs of a weakening job market despite persistent inflation above the 2% target.
The Federal Reserve cut interest rates by a quarter of a percentage point, its first reduction in nine months, prompted by signs of a weakening job market despite persistent inflation above the 2% target. Fed Chair Jerome Powell described the move as an “insurance cut,” signaling caution rather than the start of aggressive easing, which tempered initial market optimism and led to rising Treasury yields and a stronger dollar.
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