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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUS Fed Rate Cut Live: Fed cuts rates by 50 basis points
This makes me smile. I was worried that the fed would wimp out and only do 25 basis point cut
Link to tweet
https://www.reuters.com/business/fed-rate-cut-live-powell-expected-kick-off-new-easing-cycle-2024-09-18/
The Federal Reserve cut interest rates by half of a percentage point, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.
"The committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance," policymakers on the U.S. central bank's rate-setting committee said in their latest statement, which drew a dissent from Governor Michelle Bowman who favored only a quarter-percentage-point cut.
Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, another full percentage point in 2025, and by a final half of a percentage point in 2026 to end in a 2.75%-3.00% range.
"The committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance," policymakers on the U.S. central bank's rate-setting committee said in their latest statement, which drew a dissent from Governor Michelle Bowman who favored only a quarter-percentage-point cut.
Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, another full percentage point in 2025, and by a final half of a percentage point in 2026 to end in a 2.75%-3.00% range.
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US Fed Rate Cut Live: Fed cuts rates by 50 basis points (Original Post)
LetMyPeopleVote
Yesterday
OP
Great move! But Trump will say it is a desperate move to save the nation from a depression, like the world has never
Doodley
Yesterday
#2
the Dow is crashing to new record highs today after the Fed cut interest rates
LetMyPeopleVote
22 hrs ago
#5
The Dow finished down 103 points. Always best to wait for the market to close before spiking the football.
onenote
22 hrs ago
#6
Statement from Vice President Harris on the Federal Reserve's announcement
LetMyPeopleVote
22 hrs ago
#7
BootinUp
(48,341 posts)1. Ok, now FINISH HIM!
Doodley
(9,955 posts)2. Great move! But Trump will say it is a desperate move to save the nation from a depression, like the world has never
known, and to help Kamala steal the election.
I think the economy is doing better than anyone predicted, and outperforming other nations, although Trump says it's the worst it's ever been.
ProudMNDemocrat
(18,440 posts)3. GREAT news for Dems, the Economy, and the DJI. BAD news for tRump...
More great news for Democrats to use that the economy is on the right path and that the inflation rate is well below 3%.
Interested in how MAGAts are going to spin this.
Think. Again.
(15,639 posts)4. Finally. Took almost 4 years to recover from the damage trump did.
LetMyPeopleVote
(151,973 posts)5. the Dow is crashing to new record highs today after the Fed cut interest rates
onenote
(43,930 posts)6. The Dow finished down 103 points. Always best to wait for the market to close before spiking the football.
LetMyPeopleVote
(151,973 posts)8. When trump left office, the Dow Jones was sitting at 31,188.
LOL
Do you remember TFG promising a stock market crash if President Biden was elected? The Dow is also up a great deal for the month
Link to tweet
LetMyPeopleVote
(151,973 posts)7. Statement from Vice President Harris on the Federal Reserve's announcement