Fed Slashes Benchmark Interest Rate by 50bps in First Cut Since 2020
Submitted by Anonymous (not verified) on Wed, 09/18/2024 - 21:30
On Wednesday, the U.S. Federal Reserve lowered its benchmark interest rate for the first time since March 2020. The Sept. 18, 2024 rate cut amounted to 50 basis points (bps), a notably bigger adjustment than many analysts anticipated. According to the Federal Open Market Committee (FOMC) press release, the central bank remains focused on reaching […]