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The Federal Reserve starts cutting interesting rates in a big moment for the economy

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The Federal Reserve starts cutting interesting rates in a big moment for the economy

Image caption: The Federal Reserve began cutting interest rates Wednesday, signaling a turning point in the long-running battle against inflation. Image credit: Win McNamee / Getty Images North America. Article by Scott Horsley. NPR – September 18, 2024. 

The Federal Reserve moved aggressively Wednesday to start cutting interest rates as its single-minded focus on fighting inflation gives way to a growing interest in protecting the job market. The central bank lowered its benchmark interest rate by half a percentage point, which will make it cheaper to get a car loan, finance a business or carry a balance on your credit card. […]