HERE WE GO: Federal Reserve Cuts Interest Rates 50 Basis Points… Just in Time to Boost Kamala Harris (VIDEO)
Just in time to give Kamala Harris a boost.
The Federal Reserve on Wednesday cut interest rates 50 basis points – or 0.5% – bringing the benchmark rate to 4.75-5%.
CNBC reported:
The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.
With both the jobs picture and inflation softening, the central bank’s Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, affirming market expectations that had recently shifted from an outlook for a cut half that size.
