Fed's Historic Rate Cut: Biggest Since 2008
Economy
The Federal Reserve made a bold move on Wednesday, cutting interest rates by half a percentage point—the largest reduction in borrowing costs since 2008. The central bank lowered its target range to 4.75%–5%, marking the end of the most aggressive tightening cycle in U.S. monetary policy in four decades. This shift reflects a significant victory over soaring inflation, which has now dropped to less than a third of its pandemic peak. The Fed''s focus is now turning toward supporting a labor market
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