Home
Solutions
Products
Pricing
Resources
Request Demo
Start Free
Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo
StateStorm

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

  • 1424 new people
  • 56 new organizations
  • 1526 new photos
  • 1834 job history records for people in our database
  • 631 education records for people in our database
  • 3115 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
  • 5 new people through the revolving door
  • 236 new policy reports
  • 178 new trips to our privately funded travel database
  • 177 new personal financial disclosures
  • 12629 new press releases
  • 18 new town halls
  • 8 new hearings

Caught Our Eye Rss

» More from Caught Our Eye
» More from our DevBlog

Why Is the Federal Reserve Reducing Interest Rates? (CRS Report for Congress)

Premium   Purchase PDF for $24.95 (3 pages)
add to cart or subscribe for unlimited access
Release Date Sept. 23, 2024
Report Number IN12427
Report Type Insight
Authors Marc Labonte
Source Agency Congressional Research Service
Summary:

On September 18, 2024, the Federal Reserve (Fed) reduced interest rates to a target range of 4.75%-5%. This was the first rate cut since March 2020, and the Fed expects to continue cutting rates this year and beyond. Why is the Fed cutting interest rates? And why did it decide to reduce rates by 0.5 percentage points (50 basis points), instead of the more standard 0.25 percentage points. The Fed has a “dual mandate” to promote price stability and maximum employment. The Fed targets the federal funds rate—a short-term interest rate in the interbank lending market—to balance those goals. It reduces rates when employment or inflation is too low and raises rates when either is too high. For an explanation of how changing interest rates affects the economy, see CRS In Focus IF11751, Introduction to U.S. Economy: Monetary Policy.
HomeAbout Us Contact UsPrivacy PolicyTerms of UseJoin Us
© LegiStorm
LegiStorm
2101 L St. NW, Suite 300
Washington, DC 20037
(202) 360-4172 / congress@legistorm.com