BREAKING: 50 bps it is.
"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent."
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Do you think they were going to 25 and then the letter from Warren and her ilk made them push it?
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No.
50 bps is a pretty typical first move and it's as the markets *expected*
No the letter was so that 50 would look reasonable
