The Federal Reserve has cut interest rates for the first time since the start of the pandemic, cutting rates by 50 basis points.
The Fed says it has "greater confidence" that inflation will return to a normal level.
The cut was more aggressive than what many expected.
105 of 114 economists expected a cut of 25 basis points.
"The move will have a major impact on the finances of Americans across the board, making borrowing cheaper, though the golden days of high-yield savings instruments may be over," Forbes reported.
.Here are the top political news stories for today.
Inflation coming back in 3. 2. 1.
Always lowering prices at the end of a term after they raised them at the beginning to begin with. It is a political move for 6 weeks. People should take advantage of it while they can though because come January…we will see who gets the White House.
A complete ploy just to prop up the economy ahead of the election— at the expense of Americans.
Everyone is just going to go into debt to afford living expenses.
These people really don’t care about us
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