Federal Reserve Governor Michelle Bowman became the first Fed official since 2005 to vote against the central bank’s interest rate decision, when she dissented Wednesday against the Fed’s move to

The Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.

The Fed's decision to cut rates by 50 basis points garnered support from 11 of 12 voting members, with a dissent from Fed governor Michelle Bowman.

The Federal Reserve cut interest rates by a half-point, marking a significant shift in its inflation fight and reflecting a focus on job market support. The move could impact the economy and influence the upcoming presidential election.

The Federal Reserve cut interest rates Wednesday by half a percentage point, an unusually large move and a clear signal that central bankers think they are winning.

Policymakers, according to reports, expect the Fed's benchmark to fall another half of a percentage point by 2024-end, and another one per cent in 2025

Federal Reserve Governor Michelle Bowman on Wednesday became the first Fed governor to vote against an interest-rate decision by the U.S. central bank since 2005, denying Fed Chair Jerome Powell a clear consensus at a pivotal moment.

Federal Reserve Governor Michelle Bowman dissented on an interest-rate decision for the first time since 2005, opposing a 50 basis point cut in favor of a quarter-point reduction. Her stance reflects concerns about easing too quickly and highlights ongoing internal debates within the Fed over monetary policy amidst economic challenges.