Federal Reserve cuts key rate for first time this year at a quarter-point 2 hours ago The Federal Reserve cut its key interest rate by a quarter-point on Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this...
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