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Breaking: The Fed cuts key interest rate by a quarter point as expected. The move will lower auto loan, credit card and other rates for Americans.

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Thu Nov 7 2024

Fed cuts key rate by quarter point in second straight move to boost economy

FILE PHOTO: Federal Reserve Board Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner/File Photo

After a September half-point cut, the reduction would bring the benchmark federal funds rate down three-quarters of a point from its 23-year high.

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