US Fed cuts rates again, this time by a quarter point

(Image: Getty)

Fri, 08 Nov 2024

By Nick Timiraos The Federal Reserve approved a quarter-point interest-rate cut Thursday, the latest step to prevent large rate increases of the prior 2½ years from weakening the labour market as inflation eases.The decision, coming the same week as the election of Donald Trump to a second presidential term, followed an initial cut of a half-point in September and will bring the benchmark federal-funds rate to a range between 4.5% and 4.75%. All 12 Fed voters backed the cut.Officials have said those moves are warranted because...

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