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Federal Reserve cuts rates by 50bps amid growing confidence in economy
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The Fed's move comes on the back of growing confidence in US economic data and after annual inflation dropped to 2.5% in August, beating market expectations. Eleven members of the Federal Open Market Committee (FOMC) voted in favour of the 0.5 percentage point cut, with one member, Michelle Bowman, opting instead for a quarter-point reduction. The cut was also the largest taken by Fed policymakers since 2020, when the Covid-10 pandemic struck. Fed rate cut a 'near certainty' as US inflation drops to 2.5% beating expectations In his speech on Wednesday (18 September), Fed chair J...
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Read more on investmentweek.co.ukAbout this in other media
Text of the policy statement the Federal Reserve released Wednesday abcnews.go.com /3 months ago
Federal Reserve cuts rates by 50 bps amid growing confidence in economy investmentweek.co.uk /3 months ago
Fed Cuts Rate by 50bps, Surprises Market With Dovish Dot-Plot – Here’s How Bitcoin (BTC) Reacted cryptonews.com /3 months ago
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