Fed interest rate decision today: live
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The Federal Reserve today made its final interest rate decision of 2024, capping a year during which the central bank provided some financial relief to inflation-weary borrowers in September by ushering in its first rate reduction in four years.
On Dec.
18, the Federal Reserve made its third consecutive cut of 2024, reducing the federal funds rate by 0.25 percentage points. Yet the Fed also projected a slower pace of cuts in 2025, a move that had been expected by economists given the nation's still-sticky inflation rate and some of President-elect Donald Trump's proposed policies, which, if enacted, could prove inflationary.
The Federal Reserve has been battling inflation since March 2022, when it began ratcheting up rates to cool the economy, eventually pushing its benchmark rate to its highest level in 23 years.
While inflation has moderated considerably since then, November's Consumer Price Index rose 2.7%, outpacing the Fed's goal of driving down inflation to a 2% annual rate.
That signals the battle against inflation isn't yet over, though the November inflation repo
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