How Fed rate cuts affect global economy

The US Federal Reserve lowered the interest rate range by 50 basis points to between 4.75% and 5.00% two days ago, marking the first such move since 2020.

The Federal Open Market Committee (FOMC) also projected an additional 50-basis point cut by the end of the year, noting that the Central Bank’s decisions are driven by two factors: inflation—which reached 2.5% in August—and employment.

What the Fed's rate cut could mean for you?