In first cut in 4 years, US Fed slashes rates by larger 50bps

The US Federal Reserve has lowered its benchmark interest rate by half a percentage point to bolster the labour market. The new rate range is now 4.75% to 5%. Further cuts are expected in 2024 and 2025 as policymakers balance inflation and employment goals amid rising economic uncertainties.

Sep 19, 2024 - 05:30

In first cut in 4 years, US Fed slashes rates by larger 50bps

Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -

The US Federal Reserve has lowered its benchmark interest rate by half a percentage point to bolster the labour market. The new rate range is now 4.75% to 5%. Further cuts are expected in 2024 and 2025 as policymakers balance inflation and employment goals amid rising economic uncertainties.