Federal Reserve cuts interest rates by half a percentage point, stocks end lower

Published On Sep 18, 2024, 4:09 PM

The Federal Reserve has cut interest rates by 0.5%, marking its first reduction since 2020, and plans additional cuts later this year. The Fed aims to stabilize inflation and maintain employment levels as the economy grows. Despite initial stock market gains, major indexes closed slightly lower, indicating mixed investor sentiment. Fed officials project a total cut of 100 basis points for 2024.