The US Federal Reserve is cutting interest rates for the third time

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The US Federal Reserve lowered interest rates to 4.25-4.5% for the third time this year. But the central bank said it would slow the pace of interest rate cuts next year as prices remain high. Rodney Sullivan of the University of Virginia’s Darden School of Business says, “The Fed’s signal is that they intend to break the back of inflation and bring it down to their 2% target.”

 
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