In cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a percentage point, bringing it down to between 4. 75 and 5 . A drop larger than many expected, with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed, Jerome Powell says the us economy is in good shape and they intend to keep it that way. 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 h
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
Delivered a supersized cut aimed at bolstering the us market. The first in over four years brings its key interest rate, the federal funds rate, its key interest rate, the federalfunds rate, down to between 4. 75 and 5 . It comes amid signs that inflation in america is continuing to fall while Thejob Market America is continuing to fall while the Job Market remains strong as unemployment has risen this year. Risen this year. The Labour Market is risen this year. The Labour Market is actually risen this year. The Labour Market is actually in risen this year. The Labour Market is actually in solid| market is actually in solid condition, and our intention with condition, and our intention with our condition, and our intention with our Policy Move to is to keep with our Policy Move to is to keep it with our Policy Move to is to keep it there. You can say that about keep it there. You can say that about the keep it there. You can say that about the whole economy. The us economy about the wh
another prisoner swap? then, the same kind of technology used for the best covid vaccines, mrna, is showing promise in treating other conditions, including some cancers. welcome to the lead. i m jake tapper. we start with our money lead. prices are up and the stock market is down. president biden is trying to put a positive spin on the economy, today insisting that tackling the worst inflation the u.s. has seen in decades remains a top priority. during a speech in front of the afl-cio in philadelphia, the president touted his administration s coronavirus relief efforts, record new job creation, and low unemployment levels. sure, but that s likely little consolation to the millions of americans paying record prices for everything from food to gasoline. especially as many economists predict the federal reserve will drastically hike interest rates tomorrow to try to get control of the inflation. president biden will try to address one of those crises, gas prices, now avera