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In a speech Thursday following the Federal Reserve's interest-rate cut, President Joe Biden talked up the importance of the U.S. central bank's independence while criticizing Republican presidential nominee Donald Trump's stated desire to wield more influence over the Fed.
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Federal Reserve Chair Jerome Powell did a "great job" of explaining the reasons for an aggressive interest-rate cut in a "non-scary way," former New York Fed President William Dudley said Thursday.
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The Fed's decision to cut interest rates by 50 basis points reflects its growing confidence in taming inflation and a renewed focus on supporting the job market.
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