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Fed cuts interest rates again
According to U.S. News and World Reports, The U.S. Federal Reserve cut interest rates again by a quarter of a percent, continuing on its path to bring down borrowing costs just two days after an election that many economists fear might bring an uptick in inflation. The move was expected, and markets are already pricing in another 25 basis points cut in December.
"Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low," the Fed said in a statement. "Inflation has made progress toward the Committee's 2 percent but remains somewhat elevated. The committee judges that the risks to achieving its employment and inflation goals are roughly in balance."