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In cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a percentage point, bringing it down to between 4. 75 and 5 . A drop larger than many expected, with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed, Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Federal Reserve has deli ....
First tonight, the graphic images coming in. For the second day in a row, hundreds of wireless devices simultaneously exploding across lebanon. Our team in bay route, about 20 feet from one of the blasts. At least 20 people killed today, more than 30 dead now. Thousands more wounded. 24 hours ago, pagers exploding with deadly force. Today, walkietalkies exploding, too. Devices that had been given to members of hezbollah. Tonight what weve learned about the remote driger. Marcus moore witnessing the blasts in beirut firsthand. And Martha Raddatz in the Region Tonight. Also tonight, the major news back here at home. A major turn for the u. S. Economy. The federal Reserve Today cutting a key Interest Rate by half a percent. The largest cut in 16 years. Signaling the fed ....
Just coming in right now. The Federal Reserve has announced a half a point. That was not the most expected. Most of what i read was a Quarter Point expected. It was a toss up, and really heres the thing, the Federal Reserve raised Interest Rates to get inflation down. The more recent readings we have gotten on the economy the last six weeks since the last time they announced decision is pointing to a weakness in the labor department. To cut into unemployment and make more people get out of jobs or increase unemployment further, well, thats the reason why they wanted to dramatically cut Interest Rates. They decided to do so by half a Percentage Point. Ec ....