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Appears in Newsflare picks
00:43
Fed cuts US interest rate by 0.25 points, first cut this year
SHOTLIST:
WASHINGTON DC, UNITED STATES (DECEMBER 13, 2022) (AAVN - ACCESS ALL)
1. VARIOUS OF US FEDERAL RESERVE BUILDING WASHINGTON DC, UNITED STATES - DECEMBER 13: The US Federal Reserve cut its benchmark interest rate by 0.25 percentage points on Wednesday, Sept. 17, marking its first rate reduction this year.
Officials said the move responds to weakness in the job market, with unemployment rising to 4.3% last month and an average of about 29,000 jobs added over the past three months.
The cut signals concern about slower hiring but does not indicate the economy is in freefall.
Recent data showed retail sales were stronger than expected in August, while manufacturing output also rebounded after a decline in July.
Analysts still expect the US economy to grow, though more slowly than in 2024. Pantheon Macroeconomics forecasts growth of 1.7% in 2025, compared with 2.8% last year.
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