The American central bank reduced interest rates for the third time this year, to 4.25-4.5%. But the central bank signaled that it is likely to slow the pace of rate cuts in the coming year, as prices remain high. Rodney Sullivan, of the University of Virginia’s Darden School of Business, says that “the signal the Fed is giving is that they intend to break the backbone of inflation and bring it down to a target rate of 2%.”



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