The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction since the pandemic, sharply lowering borrowing costs shortly before November’s presidential election.
The US Federal Reserve cut its key lending rate by half a percentage point Wednesday in its first reduction since the pandemic, sharply lowering borrowing costs shortly before November’s presidential election.
Policymakers voted 11-to-1 in favour of lowering the US central bank’s benchmark lending rate to between 4.
