On September 18, 2024, the Federal Reserve announced a 50 basis point cut to its key interest rate, bringing it down to 4.9%. This decision marks a shift from the Fed's previous focus on curbing high inflation to now supporting the job market, which has shown signs of slowing. The move reflects the Fed's growing confidence that inflation is approaching its 2% target, after peaking at 9.1% in 2022. The central bank has hinted at further cuts in the upcoming months to continue balancing economic growth with stable prices.You can read the full article on the Federal Reserve website