The Federal Reserve has reduced the main interest rate by a quarter percentage point, marking its third consecutive cut since September, while suggesting a potential slowdown in future reductions. This decision was influenced by a cooling labor market, despite robust retail sales and strong economic growth. Fed Chair Jerome Powell acknowledged the challenges in achieving the 2% inflation target, noting a slight increase in inflation projections. Despite these inflation concerns, consumer confidence remains high, and GDP growth has defied recession predictions, with Powell expressing optimism about the economy’s outlook.
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