[“Federal Reserve Megaphone”: The first rate cut of 50 basis points marks a bold start to the rate cut cycle] Golden Finance reported that Nick Timiraos, the “Federal Reserve Megaphone”: The Federal Reserve voted to cut interest rates by 50BP, the first rate cut since 2020, marking a bold start to the rate cut. Eleven of the 12 Federal Reserve voting members supported the decision to cut interest rates, bringing the benchmark federal funds rate to a range of 4.75% to 5%. Quarterly forecasts released on Wednesday showed that most officials expect to cut interest rates by at least 25BP at meetings in November and December. This rate cut decision firmly puts the Federal Reserve into a new phase: trying to prevent last year's rate hikes (which pushed borrowing costs to a two-decade high) from further weakening the U.S. labor market.