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The US Federal Reserve on Wednesday reduced its interest rate for the first time since 2020, by half a percentage point, so that it now ranges between 4.75 and 5 percent, and is heading for a similar additional cut by the end of 2024.The US Central Bank explained that its "confidence has become greater" in the decline in inflation. The decision was not taken unanimously during this last meeting of the reserve before the US elections on November 5, as Governor Michele Baumann supported a rate cut of only a quarter of a point.