CandleFocus BREAKING: After the FED’s Historic Interest Rate Decision, Chair Jerome Powell Makes Remarks on Live Press Conference
2024-09-18
Author: Content Editor
The Federal Reserve (Fed) surprised Wall Street banks by announcing a 50 basis point interest rate cut, exceeding the majority's expectation of a 25 basis point cut. This is the first cut since the start of the pandemic and aims to provide relief to households and businesses burdened by high interest rates. The move reflects a proactive approach by authorities to ease pressure on the economy and prevent further slowing of the labor market. The benchmark interest rate currently ranges between 4.75% and 5%. Fed Chair Jerome Powell will hold a press conference to discuss the economy and answer questions.
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