US Federal Reserve Lowers Rate As Job Market Cools
(MENAFN- Khaleej Times)
The US Federal Reserve on Wednesday lowered its key benchmark rate by 25 basis points, as a cooling labour market prompted the US central bank to act.
The Fed lowered the federal funds rate to 4-4.25 per cent, marking the first rate cut since December last year.
Recommended For YouA quarter-point cut has been the prevailing expectation for weeks after readings of the job market turned decidedly soft as the summer progressed.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Concerns about the central bank's independence seem to have eased a little, with economic adviser Stephen Miran sworn in as a Fed Governor on Tuesday and an appeals court rejecting US President Donald Trump's attempt to sack Governor Lisa Cook.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Chicago Clearing Corporation And Taxtec Announce Strategic Partnership
- Everstake Expands Institutional Solana Services With Shredstream, Swqos, And Validator-As-A-Service
- Japan Smart Cities Market Size Is Expected To Reach USD 286.6 Billion By 2033 CAGR: 14.6%
- Alchemy Markets Launches Tradingview Integration For Direct Chart-Based Trading
- Blackrock Becomes The Second-Largest Shareholder Of Freedom Holding Corp.
- Pluscapital Advisor Empowers Traders To Master Global Markets Around The Clock
More Story
Comments
No comment