"Federal Reserve Megaphone": The first rate cut of 50BP marks a bold start to the rate cut cycle
Odaily Planet Daily Report: "Fed Mouthpiece" Nick Timiraos: The Federal Reserve voted to cut interest rates by 50BP, the first rate cut since 2020, marking a bold start to the easing cycle. 11 out of 12 FOMC members supported this rate cut decision, lowering the benchmark federal funds rate to the 4.75% to 5% range. The quarterly forecast released on Wednesday shows that most officials expect at least a 25BP rate cut in the November and December meetings. This rate cut decision firmly puts the Federal Reserve in a new phase: attempting to prevent last year's rate hike actions (which pushed borrowing costs to their highest level in two decades) from further weakening the US labor market. (Jinshi)
