Federal Reserve Slashes Interest Rates by 0.5% in First Move Since Pandemic—What’s Next for Inflation, Employment, and Mortgage Costs?
The Federal Reserve slashed interest rates by half a percentage point on Wednesday, marking its first rate reduction since the early days of the COVID-19 pandemic. The central bank’s aggressive move signals a pivot from its inflation-fighting stance to one more focused on maintaining employment levels. Fed Chair Jerome Powell spoke to reporters citing the ...
