Federal Reserve Announces Interest Rate Cut

Today, the Federal Reserve announced that they have reduced interest rates by ½ percentage points. The decision was made in light of the recent progress on inflation and employment.

The Federal Reserve have seen indicators that economic progress is headed in the right direction toward their goal of 2% rate of inflation. Despite the unemployment rate moving up, it still remains low. They still note some uncertainty, but they will continue to assess incoming data and the balance of risks.