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Fed Chair Powell Announces Quarter-Point Interest Rate Cut

Jerome Powell states the central bank is taking a balanced approach to its dual mandate, lowering the policy rate by 0.25 percentage points.

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Terms & Concepts
  • Dual mandate: The Federal Reserve's policy objective to promote maximum employment and stable prices.
  • Policy rate: The benchmark interest rate set by a central bank, influencing borrowing costs and economic activity.
  • Federal Reserve: The central bank of the United States, responsible for monetary policy and financial system stability.