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Federal Reserve Cuts Rates Third Time in 2024, Powell Notes Stricter Criteria Ahead

The U.S. Federal Reserve reduced interest rates again, while Chair Jerome Powell indicated a tougher standard for future cuts.

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Terms & Concepts
  • Federal Reserve: The central banking system of the United States, responsible for setting monetary policy and regulating banks.
  • Interest Rate Cut: A reduction in the central bank's benchmark lending rate, aimed at stimulating economic activity.