US Federal Reserve cuts interest rates in first reduction in over four years | BBC News

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The US central bank has cut interest rates by more than expected in its first reduction in over four years.

The Federal Reserve said it would lower the target for its key lending rate by 0.5 percentage points, to the range of 4.75%-5%.

The widely expected cut is bigger than many analysts had predicted just a week ago, and comes as officials have noted increasing concern about rising unemployment rates.

The move will bring relief to borrowers across the US, who have been contending with interest rates hovering at the highest levels in more than two decades.

Officials signalled that further cuts were likely to follow before the end of the year.



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Honestly, this situation makes me uncomfortable, especially with the Fed cutting interest rates by 50 basis points. It signals deeper economic concerns, and I'm uncertain about my $130K investment strategy, given the possibility of not just a recession but perhaps even a depression.

auboisdaline
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Keep printing dollars out of thin air and everything will be fine.

nikakiskainourgios
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Housing prices are going to be out of reach now 😢😢😢😢😢

valoriefalorie
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Bureaucrats shouldn’t be controlling the economy in the first place.

TheClanBlade
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Everyone was calling this so no real surprise. The goal is a soft landing as the economy was starting to stall a bit!

simonpannett
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Nothing to do with it being an election year, absolutely not! 🤣

davechattoe
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It still has to be a licensed broker like uSMART that can trade ETFs from other countries.

AndeeLee-yiot
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Sanrio also increased all salary and promotions of titles.

ACK
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A big cut is bearish not bullish.

The FED hoped to stave a cut off before November and held on for as long as they could, but they couldn't because they knew...

They knew.

gerhard
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Brics is going to slow it down further

LayLoow
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Does this mean standard size candy bars will go back $1…? Maybe standard size bag of chips to $.99???? Oh wait, Arizona drinks have to go back to $.99 now?

JuveZavala
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when i the uk going to follow suit its crippling exports and home owners with mortgage's

ewilliams-xv
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So the strong economy and job market isn't strong anymore? Someone's lying.

ivermektin
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Total desperation as the US economy collapses.

williamshaw
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Might be a message Russia just hiked to 19%

educatedskeleton
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The beginning of the end for the US Dollar 💵🧻💵🧻💵🧻🎉🎉🎉🎉

pessi
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I have about seven credit cards. This will probably help me a lot.

edward
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If Biden and Harris economy are doing so great, why did they choose to do this?

wfobaby
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Another significant move would be to quit handing out our tax dollars out to everyone but those who pay their taxes...

dontmakemelaugh
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Just in time to support the Democrats at the election

nighthawwwk