Stay updated with breaking news from Cycle impulse. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Day the fed makes a long awaited move, slashing Interest Rates for the first time since 2020. Plus, the woman who may be the democrats best weapon in the fight for abortion rights. As the 11th Hour gets underway on this wednesday night. Good evening once again. I am Stephanie Ruhle and we are now just 48 days away from election day. Are you ready for this . That is less than seven weeks. You might have a Doctors Appointment scheduled after the election at this Point And Today americans got really good news about the economy. The fed decided to vote big with its first cut to Interest Rates since 2020. That means in the middle of an election where many ameri ....
the reaction in asia so far has been mixed. Our north america business correspondent ritika gupta has the details. The federal reserve has delivered a super sized interest rate cut aimed at bolstering the us labour market. The 0. 5 percentage cut, the first in over four years, brings its key interest rate, the federal funds rate, down to between 4. 75 and 5%. It comes amid signs inflation in america is continuing to fall, while the job market remains strong, even as unemployment has risen this year. The labour market is actually in solid condition and our intention with our policy move today is to keep it there. You can say that about the whole economy. The us economy is in good shape, it s growing at a solid pace, inflation is coming down. The labour market is in a strong pace. We want to keep it there. In addition, the committee setting rates released its latest forecast which showed policymakers expecting to cut rates by a further 0. 5%. That would us interest rates below 4. 5% b ....