The U.S. Federal Reserve lowered its benchmark interest rate by half a percentage point on Wednesday, signaling a response to moderating inflation and a weakening labor market. The decision to cut rates by 50 basis points reflects the central bank’s efforts to stimulate economic activity amid signs of slowing growth.
Former Federal Reserve Vice Chairman Donald Kohn emphasized the importance of ongoing rate reductions, stating, \
Reference(s):
Former Fed vice chair: Important to start and keep cutting rates
cgtn.com
