US Federal Reserve cuts interest rates for the third time in a row in 2024

The Federal Reserve cut its main interest rate for the third time in a row by about a quarter of a percentage point to a range of 4.25%-4.50%. The decision of the US central bank, headed by Jerome Powell, comes in response to the continued slowdown in inflationary pressures that have strained the US economy in the years following the Corona pandemic. On September 18, the Federal Reserve (the US central bank) cut interest rates by about half a percentage point, for the first time in 4 years, after 11 times it raised interest rates and after stabilizing them for 8 consecutive times. On November 7, the Federal Reserve cut its main interest rate for the second time in a row by about a quarter of a percentage point to a range of 4.50%-4.75%.