The US Federal Reserve has made the decision to cut interest rates by 0.25%, as announced by Federal Reserve Chair Jerome H. Powell in a news conference on Thursday afternoon. This move is seen as a response to concerns about slowing economic growth and the ongoing trade tensions between the US and other countries.
Powell stated that the decision to cut rates was made in order to keep the US economy strong in the face of potential risks such as job losses and inflation. He also noted that while these risks are present, they are “roughly in balance,” indicating a cautious approach to monetary policy.
The Federal Reserve’s decision to cut interest rates has been met with mixed reactions from economists and investors. Some believe that the move will help stimulate economic growth and boost consumer spending, while others are wary of the potential long-term effects on inflation and financial stability.
Overall, the Federal Reserve’s decision to cut interest rates reflects their commitment to maintaining a strong and stable economy in the face of uncertain global economic conditions. It remains to be seen how this move will impact the US economy in the coming months.
Watch the video by Global News
Video “US Fed cuts interest rates by 0.25% with jobs, inflation risks “roughly in balance” | FULL” was uploaded on 11/07/2024 to Youtube Channel Global News