🔥 🇺🇸 Federal Reserve cuts interest rates by 50 bps for the first time in four years.

Summary of Fed Decision (9/18/24):

1. Rate cut by 50 bps, first since 2020.

2. Two more 25 bps cuts expected in 2024.

3. One dissenting governor favored a 25 bps cut.

4. Fed sees inflation moving toward 2% target.

5. Outlook will evolve based on data.

6. 100 bps cuts projected for 2025, 50 bps in 2026.

Jerome Powell "Market conditions cooled, economy strong."

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