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Fed Announces Quarter Point Rate Cut as Expected, Sees 2 More Cuts This Yr Totaling 50 bps
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The US Fed announced on Wednesday a 25 bps rate cut as expected, lowering the federal funds rate target range from 4.25-4.5% to 4-4.25%, the first rate cut YTD, primarily due to higher downside risks in US employment. The meeting saw one dissenting vote from Stephen Miran, the newly appointed governor by the Trump administration, who favored a 50 bps cut. Two more rate cuts totaling 50 bps are expected within this year, but the Fed adjusted its forward guidance, stating only that all possibilities will be considered when deciding whether to adjust the target rate range again in the future, according to the Fed's latest statement. The Fed maintained its year-end underlying inflation forecast at 3.1% unchanged, but raised its year-end/ 2026 economic growth rate predictions from 1.4%/ 1.6% to 1.6%/ 1.8%. Chair Jerome Powell will speak at 2:30 pm Eastern Time. AASTOCKS Financial News Website: www.aastocks.com |
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