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Fed Slashes Rates to 3-Year Low Amid Deep Internal Rifts on Inflation vs. Jobs
The Federal Reserve delivered its third consecutive interest rate cut on Wednesday, lowering the benchmark federal funds rate by a quarter percentage point to a range of 3.5% to 3.75%—the lowest in three years—following a bitterly fractious meeting that highlighted profound divisions within the central bank. The decision, passed in a 9-3 vote, underscores the Fed’s delicate balancing act between…
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