The Federal Reserve cuts interest rates by 25 basis points
Bitget, the Federal Reserve concluded its annual interest rate decision for 2024. The bank decided to lower the benchmark interest rate by 25 basis points to a range of 4.25%-4.50%, marking the third consecutive cut and meeting expectations. In this year's eight decisions, the Fed has cumulatively cut rates by 100 basis points, including one reduction of 50 basis points, two reductions of 25 basis points each, and maintaining the same rate in five other instances.
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