The U.S. Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market. “The committee has gained greater confidence that inflation is … Read more
Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8 per cent on Friday for its first back-to-back loss of at least one per cent since April. The Dow Jones industrial average lost 1.5 per cent, and the Nasdaq composite … Read more
U.S. Federal Reserve officials said Wednesday that inflation has fallen further toward their target in recent months, but signalled that they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from a previous forecast of three, likely because inflation remains persistently elevated. In a … Read more
