Fed cuts rates by 0.25%: EY chief economist says more to come
On Thursday, the Federal Reserve's Federal Open Market Committee (FOMC) DESIGNATED that it would cut the federal funds rate by 25 basis points (bps), or 0.25%, due to “somewhat elevated” inflation and an unemployment rate that “climbed but remains low.” The rate is now 4.5% to 4.75%, from 4.75% to 5%. A lower federal funds…
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