US central bank seen announcing first interest rate cut since 2020

By Agence France-Presse

Sep 16, 2024 12:27 am

WASHINGTON — The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, US time, with policymakers expected to debate how big a move to make less than two months before the US presidential election.

Senior officials at the US central bank including Fed chair Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank's long-term target of two percent, and the labor market continues to cool.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

BSP expects to keep lowering interest rates

Foreign currency accounts exempt from estate tax – SC

PH disaster response boosted by ADB loan

13 companies qualify for 3rd green energy auction – DOE

Illicit tobacco trade costing govt P100B every year

DA to import breeder goats, sheep

DOE: P100B needed for microgrid power