The US Federal Reserve (Fed), easily the largest and most powerful central bank in the world, just decreased its Federal Funds Interest Rate by 50 basis points (bps) to a reference range of 5.0-5.25% percent.
What just happened? The US Fed eral Reserve , easily the largest and most powerful central bank in the world, just decreased its Fed eral Funds Interest Rate by 50 basis points to a reference range of 4.75-5.0% percent. This is the first time that the US interest rate has been cut since March of 2020 and represents a major policy shift for the Fed .
What happens next? With the Fed’s first rate cut in four years finally out of the way, investors will be immediately pivoting to guess whether the Fed will cut rates again when the central bank gathers on November 7 to deliver another rate call. It is still too early to tell what the Fed’s next move is going to be, and policymakers will want to wait and see what the next few batches of economic data say before making any decisions a little under two months from now.
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