Jerome Powell’s FOMC takes action as US economy shows resilience
The US Federal Reserve has reduced interest rates by 50 basis points, marking its first cut since 2020. Fed Chair Jerome Powell highlighted the robust state of the economy, noting solid growth and improved inflation. This move aims to make borrowing cheaper, potentially boosting economic activity. The Fed will continue to evaluate economic data and adjust policies as needed to support its dual mandate of maximum employment and price stability.
