US Fed Rate Cut Live: Fed cuts rates by 50 basis points

[LetMyPeopleVote]

This makes me smile. I was worried that the fed would wimp out and only do 25 basis point cut

Link to tweet

https://www.reuters.com/business/fed-rate-cut-live-powell-expected-kick-off-new-easing-cycle-2024-09-18/

The Federal Reserve cut interest rates by half of a percentage point, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.

"The committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance," policymakers on the U.S. central bank's rate-setting committee said in their latest statement, which drew a dissent from Governor Michelle Bowman who favored only a quarter-percentage-point cut.

Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, another full percentage point in 2025, and by a final half of a percentage point in 2026 to end in a 2.75%-3.00% range.

[BootinUp]

1. Ok, now FINISH HIM!

[Doodley]

2. Great move! But Trump will say it is a desperate move to save the nation from a depression, like the world has never

known, and to help Kamala steal the election.

I think the economy is doing better than anyone predicted, and outperforming other nations, although Trump says it's the worst it's ever been.

[ProudMNDemocrat]

3. GREAT news for Dems, the Economy, and the DJI. BAD news for tRump...

More great news for Democrats to use that the economy is on the right path and that the inflation rate is well below 3%.

Interested in how MAGAts are going to spin this.

[Think. Again.]

4. Finally. Took almost 4 years to recover from the damage trump did.

[LetMyPeopleVote]

5. the Dow is crashing to new record highs today after the Fed cut interest rates

Link to tweet

[onenote]

6. The Dow finished down 103 points. Always best to wait for the market to close before spiking the football.

[LetMyPeopleVote]

8. When trump left office, the Dow Jones was sitting at 31,188.

LOL
Do you remember TFG promising a stock market crash if President Biden was elected? The Dow is also up a great deal for the month

Link to tweet

[LetMyPeopleVote]

7. Statement from Vice President Harris on the Federal Reserve's announcement

Link to tweet