Fed Cuts Rates 25 Basis Points
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The Fed cut the federal funds rates at its September meetings, which means consumers may soon see lower interest rates.
Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, further raised the odds on Wednesday that the Federal Reserve will deliver another interest rate cut at the October meeting,
The Federal Open Market Committee cut the federal-funds rate by a quarter percentage point on Wednesday because members see a “shift in the balance of risks,” Fed Chair Jerome Powell said in opening his post-meeting press briefing.
At long last, the Federal Reserve is on the verge of resuming rate cuts. The Federal Reserve last cut the Federal Funds Rate to its current target level of 4.25-4.50% in December 2024.