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In first cut in 4 years, US Fed slashes rates by larger 50bps
Credit: IndiaTimes- Published 19 hours ago
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.
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