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US SUMMARY OF FED DECISION (9/18/24):
1. Fed cuts interest rates by 50 bps for first time since 2020.
2. Fed sees 2 more 25 basis point rate cuts in 2024.
3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut.
4. Fed gained "greater confidence" that inflation is moving to 2%.
5. Fed will "carefully asses incoming data" and evolve outlook.
6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026.