Federal Reserve Slashes Rates To Near Zero Announces 700 Billion The fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years. the half point move. Washington cnn —. the federal reserve slashed interest rates aggressively wednesday, announcing the first rate cut since march 2020. the bold, but not unexpected, half point move paves the way.
Federal Reserve Cuts Rates To Zero And Launches Massive 700 Bill Mortgage rates were already falling ahead of the federal reserve’s expected interest rate cut. the average 30 year fixed mortgage rate fell to 6.20% last week , the lowest level since february 2023. News; national business; fed announces big rate cut, shifting from inflation fight sept. 18, 2024 updated wed., sept. 18, 2024 at 7:48 p.m. the federal reserve. Federal reserve slashes rates to near zero, announces $700 billion quantitative easing program gives a press briefing after the surprise announcement the fed will cut interest rates in. Because the move was so well telegraphed, and because markets had already climbed so much in anticipation of it, wall street’s reactions were relatively muted despite the fed’s 180 degree turn on rate policy. it marked the first cut to the federal funds rate in over four years, and it closed the door on a stretch where the fed kept rates at.
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