Six weeks ago the Federal Reserve cut interest rates, a move that calmed panicked credit markets and sent stock markets soaring. Now investors faced with more troubling data are betting that the Fed will reduce rates again tomorrow.
Since the Fed's action, major financial institutions have had difficulty understanding the scope of their losses from the recent credit crunch, and economic data have been discouraging. The Fed's announcement is just one of several major pieces of economic news this week that will give the clearest sense yet of how badly the economy has been hurt.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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