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Federal Reserve officials support moving “gradually” to lower interest rates on stronger than expected economic growth and fading concerns about the labour market’s health, according to a record of the central bank’s November meeting.
Minutes released on Tuesday suggest that the US policymakers no longer see an urgent need to rapidly reach a “neutral” level of interest rates that no longer hampers growth, a bumper half-point cut in September.
At the November meeting, the Federal Open Market Committee lowered rates by a quarter-point to a range of 4.5-4.75 per cent — the second cut in as many meetings.
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in HTML format to make it easy for teens to read and understand. Create appropriate headings and subheadings to organize the content. Ensure the rewritten content is approximately 1000 words. At the end of the content, include a “Conclusion” section and a well-formatted “FAQs” section.
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