Fed cuts by a quarter point, indicates fewer reductions ahead

The Federal Reserve lowered its key interest rate by a quarter percentage point for the third consecutive time, bringing it to a target range of 4.25%-4.5%. The decision was widely expected by the market, but the Fed signaled caution about future cuts despite inflation being above target and strong economic growth. This move marks a return to interest rate levels last seen in December 2022, when rates were increasing.

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