Fed slashes interest rates by half a percentage point in bid to avert slowdown

The Federal Reserve cut its key lending rate by half a percentage point, at the top end of Wall Street expectations, saying a shaky job market poses a bigger risk to the economy than inflation. But Fed Chairman Jerome Powell said economic observers should not assume the half-point cut represents “a new pace of further […]

Cuts Rates by Half Percentage Point

The Federal Reserve cut interest rates by half a percentage point, its first cut since the central bank slashed rates to near zero in 2020 as the pandemic hit, in an attempt to signal confidence that inflation will remain tame and prevent unemployment from rising further. “Recent indicators suggest that economic activity continues to expand […]

Only ‘Very Small Percentage of My Colleagues’ Are Still with Biden

Rep. Jim Himes, D-Conn., told CNN’s “The Source” on Thursday that only a “very small percentage” of his colleagues are still aligned with President Joe Biden. “Do you foresee any other Democrats in the House who will be voting? And if so, how many more do you think will be voting?” moderator Kaitlan Collins asked.“I […]