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***Powell-led FOMC cuts rates by 50 bps to 4.75-5% for first time in four years;
The US Federal Reserve has cut its key lending rate by half a percentage-point Wednesday in its first reduction since the pandemic, sharply lowering borrowing costs shortly before November's presidential election.
Policymakers voted 11-to-1 in favor of lowering the US central bank's benchmark lending rate to between 4.75 per cent and 5.00 per cent, the Fed announced in a statement. They also penciled in an additional half-point of cuts before the end of the year.
NOW JACKPOT TRADES ONLY IN PREMIUM WITH PROPER SL AND TARGETS DONT MISS
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https://cosmofeed.com/vig/662b5136c727be0013280fac
