The Fed cut interest rates by 50 basis points. This was the first interest rate cut decision since March 2020

The US Federal Reserve (Fed) announced the interest rate decision that the markets were eagerly waiting for. Accordingly, the Fed Open Market Committee (FOMC) lowered the policy rate by 50 basis points to a range of 4.75-5.00 percent.

In recent days, markets were looking at a 25 or 50 basis point cut as a possibility. With today's decision, the Fed has made its first interest rate cut decision in 4.5 years.

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