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Federal Reserve cuts key rate by sizable half-point, signaling end to its inflation fight

WASHINGTON (AP) — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for A

By: WBRZ

Sep 19 2024
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Federal Reserve cuts key rate by sizable half-point, signaling end to its inflation fight — Federal Reserve cuts key rate

In a statement, the Fed came closer than it has before to declaring victory over inflation: It said it “has gained greater confidence that inflation is moving sustainably toward 2%.” Though the central bank now believes inflation is largely defeated,... [2469 chars]

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