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U.S. Federal Reserve Reduces Benchmark Rate to 3.5%–3.75%

The Federal Reserve cut its key interest rate target range in a 9-3 vote, marking a notable policy shift.

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Terms & Concepts
  • Federal Reserve (U.S. central bank): The central banking system of the United States, responsible for monetary policy, including setting interest rates.
  • Benchmark Rate: The standard interest rate set by a central bank that influences borrowing costs across the economy.