NEW YORK -- The U.S. Federal Reserve cut interest rates for the first time in more than four years on Wednesday, by half a percentage point to a range between 4.75% and 5%, aiming for a soft landing that gets inflation under control without causing a recession.
"The U.S. economy is in good shape," Fed Chair Jerome Powell told a news conference after the decision. "It's growing at a solid pace, inflation is coming down, the labor market is in a strong pace -- we want to keep it there."
