The US Federal Reserve has cut interest rates by a quarter point, bringing down borrowing costs for Americans for the third time this year. The move aims to maintain economic growth and a strong job market despite stalled inflation. With inflation slightly above the central bank’s target of 2%, Fed officials are balancing the risk of rekindling inflation with the potential consequences of holding off on further rate cuts.
The decision comes as President-elect Donald Trump takes office, sparking interest in how he will influence monetary policy. Fed Chair Jerome Powell will address reporters in a news conference later today to provide insights into the central bank’s future plans.
Source: https://edition.cnn.com/business/live-news/federal-reserve-interest-rate-12-18-24/index.html