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U.S. Federal Reserve Cuts Interest Rate by 25 Basis Points to 3.75%

The Federal Reserve (U.S. central bank) reduced its benchmark interest rate by 0.25%, now set at 3.75%.

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Terms & Concepts
  • Federal Reserve: The central banking system of the United States, responsible for monetary policy including setting interest rates.
  • Basis Points (bps): A unit of measure equal to one hundredth of a percentage point, used to describe changes in interest rates or yields.