Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut
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Washington CNN — The Federal Reserve slashed interest rates aggressively Wednesday , announcing the first rate cut since March 2020. The half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards. It marks a crucial milestone for the central bank’s historic inflation fight, which kept rates at a bruising 23-year high for more than a year. President Joe Biden acknowledged the Fed’s success at such a critical juncture, saying in a statement on X that “
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