From USA TODAY.
The Federal Reserve on Dec. 10 announced a quarter-point rate cut to its benchmark federal funds rate, its third in a row, aimed at lowering borrowing costs for consumers.
The decision brings the Fed’s benchmark rate range down to 3.5% to 3.75%. Analysts widely expected the move after private-sector reports signaled further cooling in the labor market, and the Fed’s own Beige Book delivered a downbeat assessment of the economy in November.
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