US Fed makes aggressive interest rate cut, weeks before election
Coronavirus
WASHINGTON: The US Federal Reserve cut its key lending rate by 50 basis points, or half a percentage point, on Wednesday (Sep 18) in its first reduction since the COVID-19 pandemic, sharply lowering borrowing costs just before November's presidential election. The Fed's decision will affect the rates at which commercial banks lend to consumers and businesses, bringing down the cost of borrowing on everything from mortgages to credit cards. The move marks the beginning of the end of the Fed's
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