Fed Cuts Rates, Divided on Economic Outlook

The US Federal Reserve has lowered interest rates for the third time this year, aiming to support a slowing job market. Despite disagreements among policymakers, the central bank cut its key lending rate by a quarter of a percentage point, placing it between three point five zero percent and three point seven five percent. This decision was not unanimous, with three officials voting against the cut. The unemployment rate slightly increased in September, moving from four point three percent to four point four percent. The Fed plans one more rate cut next year, awaiting official labor market and inflation figures for November to provide more clarity. The ongoing debate within the Federal Reserve highlights the complex challenges facing the US economy. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.