In first cut in 4 years, US Fed slashes rates by larger 50bps

Quick Summary:

The US Federal Reserve has lowered its benchmark interest rate by half a percentage point to bolster the labour market.

The new rate range is now 4.75% to 5%.

Further cuts are expected in 2024 and 2025 as policymakers balance inflation and employment goals amid rising economic uncertainties.

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Article Details

Author / Journalist: Bloomberg

Category: EconomyBusiness

Markets: IndiaUkraine

Topics: Inflation target Federal Reserve 50 basis points Economic growth Employment landscape US Fed Interest rate cut

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-19 @ 07:34:19 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 731 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22582892

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 5 posts per day

Year Established: 1838

Headquarters: India

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