The Federal Reserve slashed US rates of interest by 50 foundation factors, its first reduce in 4 years, decreasing the benchmark fee to 4.75-5.00 p.c. The transfer, double the standard 25 foundation level adjustment, indicators heightened concern about financial progress as inflation slows. The choice goals to safeguard the labour market amid rising uncertainties.
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US Federal Reserve lowers interest rates weeks before presidential election
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