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Is the Fed Ready for Its First Interest Rate Cut in 4 Years?
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Subscribe18 SEP 2024 / FINANCE
The Federal Reserve has slashed the federal funds rate by 50 basis points to a range of 4.75% to 5%, marking the first rate cut since March 2020. The rate reduction could lower borrowing costs for consumers, but also decrease the high returns currently being seen in savings accounts.
After years of steadily raising interest rates to combat inflation, the Fed is now shifting gears. But the big question loomed: Would they opt for a half-point cut or play it safer with a quarter-point reduction? Economists were split, and millions of Ame...
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