The Federal Reserve announced a half-percentage point interest-rate cut on Wednesday, the first decrease in four years. It’s a moment that many economists see as the end of an era, and the beginning of the end of the central bank’s fight against inflation.
The Fed’s prime rate – used to set the rates on everything from mortgages to car loans – has sat at a 20-year high for the last year, making it more expensive to borrow money.
