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Fed Cuts Rates By 25 Basis Points

The Federal Reserve Headquarters in Washington, DC. Image: Dan Smith

FOMC Announces Rate Cut

The much anticipated FOMC announcement has been made, and the Fed has cut policy interest rates by 25 basis points. The market reacted by selling off, major indexes were down less than 1%.

Fed Chairman Jerome Powell commented that inflation was muted, and President Trump previously had commented that one quarter point was not enough.

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