Market News
Fed Cuts Rates Quarter Point, Signals Labor Market Concerns - BLOOMBERG
Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs.
In their post-meeting statement, policymakers pointed to growing signs of weakness in the labor market to justify their first rate cut since December, but also acknowledged that inflation has “moved up and remains somewhat elevated.”
