Fed Cuts Rates by Half Percentage Point Amidst Market Volatility

📆 23/09/2024 04:54:00
📰 NBCNewYork

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The Federal Reserve lowered interest rates by a half percentage point in an effort to stimulate economic growth. This move comes amid concerns about inflation and a potential recession, with investors watching closely for signs of market stability.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. Whether talks proceeded or what possible deal terms would be are unclear, according to a source. Considering Intel's market cap of over $90 billion, the deal, if it were to happen, would be one of the largest technology mergers ever.

The freight company's seen as a bellwether for the economy. The higher overall demand is, the more shipping services are required. Hence, when FedEx misses revenue estimates, one possible conclusion's that the economy's not doing as hot as expected.Piper Sandler chief global economist Nancy Lazar noted the current easing cycle echoes that of 2001 and 2007, when the Fed's first cut was also half a percentage point.

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Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage pointCryptocurrencies rose during a broad market rally Thursday, one day after the Federal Reserve delivered a large interest rate cut.
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