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U.S. Federal Reserve Cuts Interest Rates Amid Economic Slowdown
U.S. Federal Reserve Cuts Interest Rates Amid Economic Slowdown
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BTCCSquare news:
The Federal Reserve lowered its benchmark interest rate for the first time this year, responding to signs of a cooling labor market and moderating economic growth. The quarter-point cut brings the federal funds rate to a new range, marking a shift from the central bank's previous stance of holding rates steady amid elevated inflation.
Federal Open Market Committee members cited slowing job gains and a slight uptick in unemployment as key factors in their decision. The MOVE reflects growing concerns about economic momentum, despite inflation remaining above target levels. Dissent emerged from newly confirmed Governor Stephen I. Miran, who advocated for more aggressive easing—highlighting ongoing political pressures on the central bank.
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