Brief by Shorts91 Newsdesk / 02:59am on 08 Nov 2024,Friday International
The US Federal Reserve has lowered interest rates by 0.25%, bringing the range to 4.50-4.75%. Fed Chair Jerome Powell stated that Donald Trump's election victory won't immediately impact policy decisions, citing uncertainty around Trump's economic agenda. The rate cut aims to influence borrowing costs and boost the economy. Powell reassured that the Fed makes decisions based on facts, not speculation. This move demonstrates the Fed's independence, despite the looming change in administration.
