In the short term, the reduction will lead to slightly lower interest rates on mortgages, auto loans, and credit card debt.

The Federal Reserve has made its first rate cut in 14 months, with more expected in 2024. Here are the smart money moves to consider.

The US central bank has cut interest rates by more than expected in its first reduction in over four years. The Federal Reserve said it would lower the target for its key lending rate by 0.5 percentage points,

Oil prices rose by nearly 2% on Thursday after the Federal Reserve's large cut in U.S. interest rates helped global benchmark Brent crude recover from its lowest in nearly three years hit last week. Brent futures rose to $74.