The Federal Reserve lowered its key interest rate by a hefty half percentage point Wednesday, moving ahead with its first rate cut in four years and cheering markets that expected an emphatic move amid a softening jobs picture.
With the slowing labor market posing a growing risk to the economic expansion, Fed officials opted for a bold approach to launch a projected flurry of rate cuts now that inflation is easing.
But the central bank forecast a total of just a half point in additional cuts the rest of the year, signaling officials don’t believe the job market is collapsing.
The parent company of TGI Fridays, the casual dining chain, has filed for bankruptcy, the company...
American employers added 254,000 jobs last month in the penultimate jobs report before the US election,...
Boeing plans to lay off about 10% of its workers in the coming months, about 17,000...
Donald Trump’s tiny social media empire has seen its extraordinary stock market rally wiped out by...
