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Federal Reserve Cuts Benchmark Rate to 3.5%-3.75% for Third Straight Meeting

The U.S. central bank reduced rates by 25 basis points, totaling 75bps in cuts over 2024, continuing its policy easing cycle.

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Terms & Concepts
  • Basis Point (bps): A unit equaling one-hundredth of a percentage point, used to describe interest rate changes.
  • Benchmark Rate: The central bank’s reference interest rate that influences borrowing costs across the economy.