Fed Cuts Interest Rates by a Quarter Percentage Point

The U.S. Federal Reserve announced an interest rate cut of 0.25 percentage point on Dec. 10, bringing rates down to 3.5% to 3.75%, according to a Federal Open Market Committee statement. 

“Job gains have slowed this year, and the unemployment rate has edged up through September. More recent indicators are consistent with these developments. Inflation has moved up since earlier in the year and remains somewhat elevated,” the statement says. “The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective.”

Read the full report here.