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Fed slashes rates by a half-point – what that means for the economy and the presidential election

  • Written by Michael Walden, Professor and Extension Economist, North Carolina State University
Fed slashes rates by a half-point – what that means for the economy and the presidential electionAll smiles as Fed Chair Jay Powell signals he's confident he's winning the inflation fight. AP Photo/Ben Curtis

In a widely anticipated move, the Federal Reserve announced on Sept. 18, 2024, that it was cutting its benchmark interest rate by half a percentage point to a range of 4.75% to 5% – the first time the cost of borrowing has been...

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