The Federal Open Market Committee maintains a low policy interest rate to support maximum employment and price stability, aligning with its dual mandate. This strategy of keeping rates near zero aims to stabilize economic conditions, with an expectation of impending rate increases as the economy normalizes.
The Federal Reserve is set to make its first interest rate cut since the pandemic ended. Marketplace's Kimberly Adams explains how the move could impact the US economy and politics.
This episode was produced by Miles Bryan, edited by Matt Collette and Miranda Kennedy, fact-checked by Laura Bullard, engineered by Patrick Boyd and Andrea Kristinsdottir, and hosted by Noel King.
Transcript at vox.com/today-explained-podcast
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