Fed to slow interest rate cuts after quarter-point reduction

The Federal Reserve plans to slow interest rate cuts next year. (Image: File)

Thu, 19 Dec 2024

By Nick TimiraosThe Federal Reserve signalled greater doubt over how much it would continue to cut interest rates after agreeing to a reduction on Wednesday that chair Jerome Powell conceded had been a close call.The latest cut, approved by 11 of 12 Fed voters, will lower the Fed’s benchmark federal funds rate to a range between 4.25% and 4.5%, a two-year low.The Fed reduced rates at its two previous meetings, beginning with a half-percentage-point cut in September amid signs the labour market might be weakening. Officials approved a quar...

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