The long-awaited interest rate cut is finally here and what a cut it was! - a 50 basis point cut that took the market slightly by surprise.
The decision lowers the federal funds rate to a range between 4.75% - 5%. In addition to this reduction, the committee's dot plot shows the equivalent of 50 more basis points of cuts by year-end, another full percentage point in cuts by the end of 2025 and a half point in 2026. In all, the Fed's dot ...