Rate cuts typically lower borrowing costs for mortgages, auto loans and credit cards
It's the biggest rate cut since the country was slammed by the Covid-19 pandemic in 2020
The country's GDP picked up between April and June: report
Continuing claims have been on the rise in recent months
The country released a 50-page roadmap and cut key interest rates Monday
Economists expect another rate cut could be in store
While the U.S. labour market remains historically healthy, recent data suggest some weakening
Report comes amid upheaval in retail landscape
Progress against accelerating prices has been slowed by stickier-than-expected inflation for services
Powell declined to provide any hints of when the first rate cut would occur