The Federal Reserve cut interest rates for the first time in over a decade on Wednesday, citing global economic risks and muted inflation. Here are five takeaways from the move: 1. The Fed lowered its benchmark interest rate by a quarter point to a range of 2% to 2.25%. 2. The cut was widely expected, but the timing was accelerated due to growing concerns over global economic weakness and trade tensions. 3. Mortgage rates could fall further, making it cheaper for homebuyers to borrow. 4. The move could also boost corporate profits and stock prices. 5. The Fed signaled that it may cut rates again, depending on economic conditions.
