Credit: Syuji Honda/Adobe Stock
Watching anticipation of a rate cut has been like watching high-speed volleys during a tight tennis match. But the speculation of markets part is over; the Federal Reserve's Federal Open Market Committee has made its decision. The central bank is cutting the benchmark federal funds rate by 50 basis points. That makes the federal funds rate a range of 4.75% to 5%.
"The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance," the central bank wrote. "The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate."
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