Federal Reserve Chairman Jerome Powell delivers remarks following the Federal Reserve’s two-day policy meeting on Wednesday.
The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional reductions in coming years.
In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target range of 4.25%-4.5%, back to the level where it was in December 2022 when rates were on the move higher.
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LIVE: Federal Reserve Chair Powell speaks after Fed cuts interest rates by a quarter point — 12/18/2024
