The Federal Reserve cut its benchmark interest rate by 0.25 percentage points (25 basis points) today, lowering the federal funds rate to a range of 4.00% to 4.25%. This is the Fed's first rate cut of 2025, signaling a response to a weakening labor market and slower economic growth, with two additional rate cuts anticipated later this year. The decision was not unanimous, with one governor preferring a larger 0.50 percentage point cut.
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