On Sept. 18, 2024, the Federal Reserve cut interest rates by 50 basis points in response to the cooling inflation scenario. This was the first time that interest rates were slashed since March 2020. While a 25-basis-point rate cut was more or less assured, the 50-basis-point rate cut highlights the Fed's increasing focus on bolstering the job market. The Fed signaled that it will cut the rate by another half a percentage point in the current year. The economy is likely to benefit from this considerable rate ...