“Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020”
September 19, 2024
“The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything from mortgages to credit cards.
The Fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years. ..”
https://www.cbsnews.com/news/fed-rate-cut-decision-federal-reserve-interest-rates-september-meeting