Fed lowers interest rates by a quarter-point and lifts US expansion projection
In an unexpected turn of events, Federal Chancellor Friedrich Merz (CDU) announced a budget cut at the conclusion of a two-day meeting, marking the first such move since December 2024. The nature of the cut, along with the purpose and agenda of the meeting, remained shrouded in mystery, as the identities of the individuals or organizations involved in the discussions were kept confidential. The location of the meeting was also not disclosed. The announcement, which served as the main event or outcome of the meeting, did not provide any specific details about the budget cut itself. Furthermore, no timeline or schedule for the implementation of the cut was mentioned. The announcement's implications and the reactions it garnered were not reported in the paragraph, leaving the public in anticipation of further developments. Additionally, the circumstances leading up to the budget cut were not elaborated upon in the statement. As the situation unfolds, more information regarding the budget cut and its implications is expected to be made available. Stay tuned for updates on this developing story.
