The Federal Reserve on Wednesday cut its benchmark interest rate by 0.25 percentage points, but Chair Jerome Powell hinted that the central bank might pause before further lowering borrowing costs. The Fed cut lowers the federal funds rate — what banks charge each other for short-term loans — to between 3.75% and 4%, down from its prior range of 4% to 4.25%. The Fed reduced rates by the same amount in September, its first cut since December of 2024. https://www.cbsnews.com/news/federal-reserve-i
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The Bureau of Labor Statistics released its revised jobs report and the new data shows US job growth from much of the past year was much weaker than initially estimated. CNN's Rahel Solomon explains why this is a big deal. https://cnn.it/4fM7PV4 | CNN
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