The Federal Reserve announced a long-awaited interest rate cut, lowering the benchmark rate by 50 basis points from what was the highest level in 23 years as the central bank eased borrowing costs following progress in the fight against inflation. LiveNOW’s Andrew Craft spoke about the rate cut with economic experts, Paul Mueller and Dan Varroney.

The Federal Reserve on Wednesday held interest rates steady for the seventh straight time and scaled back the outlook for rate reductions later this year as high inflation lingers. Posted June 12, 2024 8:30pm EDT