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The Federal Reserve aims to reduce the inflation rate — the rise in prices — to its target of 2%.
Wed, Sep. 18, 2024
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Federal Reserve
The U.S. Federal Reserve has decided to cut interest rates by 50 basis points, bringing them to a range of 4.75% to 5%.
This decision marks the beginning of what is expected to be a consistent easing of monetary policy.
Over the past four years, interest rates on the U.S. dollar have been continuously raised due to rising prices resulting from the COVID-19 crisis, the Russia-Ukraine war, and war on Gaza.
The Federal Reserve aims to reduce the inflation rate — the rise in prices — to its target of 2%.
This interest rate cut is expected to boost gold's gains, with prices recently climbing to $2,600 per ounce (31.1 grams), amid predictions of reaching $3,000 per ounce.
Federal Reserve
