Federal Reserve cuts interest rates by a quarter point

Federal Reserve cuts interest rates by a quarter point


Key Points
  • The Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, or 25 basis points, to a target range of 4.50%-4.75%.
  • The vote was unanimous. Fed officials have justified the easing mode for policy as they view supporting employment becoming at least as much of a priority as arresting inflation.



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