In a highly anticipated move, the Federal Reserve announced an interest rate cut on September 18, reducing rates by 50 basis points to a range of 4.75-5%. This is the first rate cut in four years after interest rates hit a 23-year high. Much speculation swirled around how aggressive the Fed would be on this first cut, and they decided to go big.
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This article was posted on Foley.com on 26 September 2024
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