WASHINGTON (AP) — With the end of their two-year fight against inflation in sight, Federal Reserve officials are likely Wednesday to set the stage for the first cut to their key interest rate in four years, a major shift in policy that could eventually lower borrowing costs for U.S. consumers and businesses.

Inflation has been falling steadily closer to the Fed’s 2% target for the past several months. And the job market has cooled, with the unemployment rate rising about a half-point this year to 4.1%. Fed officials have said that they are seeking to balance the need to keep rates high enough to control inflation without keeping them too high for too long and causing a recession.

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    5 months ago
    Associated Press Media Bias Fact Check Credibility: [High] (Click to view Full Report)

    Associated Press is rated with High Creditability by Media Bias Fact Check.

    Bias: Left-Center
    Factual Reporting: High
    Country: United States of America
    Full Report: https://mediabiasfactcheck.com/associated-press/

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