Federal Reserve Cuts Interest Rates Amid Economic Concerns

The U.S. Federal Reserve made a bold move yesterday by cutting interest rates by half a percentage point, bringing them down to around 4.9 percent from a high of 5.33 percent. This large rate cut comes amid concerns over a rise in unemployment and months of easing inflation.

The Fed's decision signals its intention to prevent a deeper economic slowdown. By making a significant rate cut early, it is effectively safeguarding against a further decline in employment and overall economic activity.