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The Federal Reserve announced it's lowering its benchmark interest rate by 0.25 percentage points. It's the first rate cut since December. CBS News' Kelly O'Grady
The Federal Reserve lowered interest rates by 0.25 percentage points on Wednesday, marking the first cut of 2025. CBS News senior business and technology correspondent Jo Ling Kent has the details.
Federal Reserve cuts interest rates by 0.25%
The central bank’s widely expected 0.25% cut comes amid a cooling labour market, which has stalled economic growth.
The central bank aims to revive a flagging labor market.
