Fed lowers rates by a quarter point
CNBC · Just In
CNBC
Just In
The Federal Reserve has cut its benchmark interest rate by a quarter point, setting a new target range of 4% to 4.25%. This move comes as the Fed acknowledges increased downside risks to employment, slower job gains, and a moderation in economic activity, despite inflation remaining somewhat elevated.
Breakdown
- Federal Reserve cuts interest rates by a quarter point to a range of 4% to 4.25%.
- Fed cites increased downside risks to employment and moderating economic activity. 18s
- Decision was not unanimous, with one official favoring a larger rate cut. 9s
- Fed officials are divided on the outlook for further rate cuts this year. 47s
- Core inflation is projected at 3% and unemployment at 4.5% for the year. 1m 52s