US Fed rate cut splits opinions just weeks before election
New Yorkers share their thoughts as the US Federal Reserve cut its key lending rate by half a percentage point in its first reduction for more than four years. Wall Street shares bounced at the open after falling the previous day, even though the Fed's rate reduction that many investors had hoped for was double the size some had predicted. The aggressive cut split opinion among analysts, with some warning it could reignite inflation, while others said it showed the bank was keeping ahead of the curve in supporting the economy.
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