Federal Reserve Announces First Rate Cut of the Year
TL;DR Summary
The Federal Reserve's FOMC announced a 1/4 percentage point cut in the federal funds rate to 4-4.25%, citing moderated economic growth, slowing job gains, and elevated inflation, while emphasizing ongoing support for maximum employment and inflation at 2%, with future policy adjustments contingent on incoming data.
- Federal Reserve issues FOMC statement Federal Reserve Board (.gov)
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- Fed Meeting Live Updates: Interest Rates and Economic News The New York Times
- Federal Reserve cuts interest rates for the first time this year NBC News
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