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Why the Fed cut interest rates for the first time in 4 years

The Federal Reserve cut interest rates by half a percentage point Wednesday after introducing several rate hikes throughout the pandemic. Martin Baccardax, chief markets correspondent for TheStreet, joins CBS News to explain the Fed's move.

Why the Fed cut interest rates for the first time in 4 years The Federal Reserve cut interest rates by half a percentage point Wednesday after introducing several rate hikes throughout the pandemic. Martin Baccardax, chief markets correspondent for TheStreet, joins CBS News to explain the Fed's move..