Republicans sweep US election and US Federal Reserve cuts interest rates

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The Republican Party is on the verge of securing a sweeping election result, which puts President-Elect Donald Trump in a powerful position to effect policy changes. These policies could stimulate growth, but also have negative consequences. They include extending tax cuts, imposing a wide range of import duties (which could trigger an international trade war and add inflationary pressure) tightening controls on illegal immigration and deregulating key sectors such as energy.
The US Federal Reserve unsurprisingly cut the key interest rate by 25 bps last week and is expected to cut again by 25 bps in December. It acknowledged the strength of the US economy and expressed disappointment about slow progress in taming inflation to target levels, which may affect future interest rate cuts.
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11 Nov 2024 English South Africa Investing · Business News

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