Back

Federal Reserve Reduces Benchmark Rate to 3.50%-3.75% in Third 2023 Cut

The U.S. central bank lowered its key interest rate by 25 basis points, totaling a 75-point reduction for the year.

Summary

No Summary provided as the original text is short

Terms & Concepts
  • Federal Reserve: The central banking system of the United States, responsible for monetary policy, including setting benchmark interest rates.
  • Basis Point: A unit equal to one hundredth of a percentage point, commonly used to express changes in interest rates.