The National on Nostr: Federal Reserve cuts US interest rates for the first time in four years ========== On ...
Federal Reserve cuts US interest rates for the first time in four years
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On September 18, 2024, the Federal Reserve cut US interest rates by 50 basis points, marking its first rate cut in four years, reducing the benchmark lending rate from 5.25-5.50% to 4.75-5.00%. The FOMC expressed confidence that inflation is moving towards the 2% target, with projected federal funds rate at 4.4% by year-end and unemployment expected to rise to 4.4%. Jerome Powell, Fed chairman, faced scrutiny regarding the rate cut size and future cuts. The Fed's actions follow a cooling labor market, with August's job additions at 142,000, and an unemployment rate increase from 3.4% in January to 4.2%. The US GDP grew by 2.5% last year and 3% in Q2 2024. The Fed aims for a 'soft landing' to control inflation without significant unemployment increases.
#FederalReserve #InterestRates #JeromePowell #Inflation #Employment #UsEconomy #Gdp #Fomc #EconomicGrowth #LaborMarket
https://www.thenationalnews.com/business/economy/2024/09/18/fed-interest-rate-cut/
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On September 18, 2024, the Federal Reserve cut US interest rates by 50 basis points, marking its first rate cut in four years, reducing the benchmark lending rate from 5.25-5.50% to 4.75-5.00%. The FOMC expressed confidence that inflation is moving towards the 2% target, with projected federal funds rate at 4.4% by year-end and unemployment expected to rise to 4.4%. Jerome Powell, Fed chairman, faced scrutiny regarding the rate cut size and future cuts. The Fed's actions follow a cooling labor market, with August's job additions at 142,000, and an unemployment rate increase from 3.4% in January to 4.2%. The US GDP grew by 2.5% last year and 3% in Q2 2024. The Fed aims for a 'soft landing' to control inflation without significant unemployment increases.
#FederalReserve #InterestRates #JeromePowell #Inflation #Employment #UsEconomy #Gdp #Fomc #EconomicGrowth #LaborMarket
https://www.thenationalnews.com/business/economy/2024/09/18/fed-interest-rate-cut/