WASHINGTON: The US Federal Reserve reduced its benchmark interest rate by a rather big half-point on Wednesday. This significant change, after almost two years of high rates, effectively controlled inflation but also resulted in high borrowing costs for American consumers. This interest rate reduction, the first by the Federal Reserve in over four years, demonstrates its renewed emphasis on strengthening the employment market, which has exhibited evident indications of deceleration. Emerging just before the presidential election, the Federal Reserve’s action also has the capacity to disrupt the economic terrain as…
Read MoreFederal Reserve reduces benchmark rate by 50 basis points, a first
