FOMC Cut Rates by 0.25% As Expected in November Decision
The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 4.50-4.75% in their November meeting, citing that inflation has “made progress” towards their objectives. FOMC policy details: Target federal funds rate lowered by 0.25% to 4.50-4.75% range Interest rate on reserve balances adjusted to 4.65% Overnight reverse repo rate set at 4.55%…