‘Big moment’: Federal Reserve cuts rates for first time ‘since Covid’

CNN reporter Matt Egan has commented on the US Federal Reserve’s “big moment” of cutting interest rates for the first time “since Covid”. The US Federal Reserve has cut interest rates for the first time in four years. The move has been seen by some economists to cool the country’s economy and lower inflation. “This is a big moment no doubt – first interest rate cut since Covid,” Mr Egan told Sky News Australia. “There’s a lot of suspense, a lot of debate, about what the Fed was going to do.”