RATE CUT: Fed cuts rates by quarter point for first time in nine months, signals more reductions ahead
WASHINGTON—The Federal Reserve lowered its benchmark interest rate by a quarter of a percentage point on Wednesday, marking the central bank’s first rate cut since December 2024 and signaling a shift toward easier monetary policy amid concerns over a softening labor market. In an 11-1 vote, the Federal Open Market Committee reduced the target range for the federal funds rate […]