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The Federal Reserve made a significant move on Wednesday, cutting its benchmark interest rate by 50 basis points to a range of 4.75% to 5%. This marks the first reduction in borrowing costs since March 2020, signaling a pivotal shift in monetary policy after more than two years of aggressive rate hikes aimed at combating inflation.

The decision reflects the Fed's growing confidence in taming inflation and its renewed focus on supporting the job market.

In July, the unemployment rate in the United States increased to 4.3%, marking its highest level since October 2021, as reported by the Bureau of Labor Statistics. The rate remained relatively stable at 4.2% in the following month.

While unemployment remains low by historical standards, the recent government data has signaled a trend of "cooling" in the labor market, prompting a........

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