Fed lowered its benchmark interest rate by 25 bps to 4.25–4.50%, as widely expected. However, the decision was not unanimous, with Cleveland Fed President Beth Hammack dissenting, favoring a pause in rate cuts. The updated median economic projections reflect a more cautious approach to easing. Fed now expects rates to fall to 3.9% by the […]
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Transcript: Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. The Federal Reserve lowered its key interest rates by a quarter of a percentage point. The Read more…
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Summary As widely expected, the FOMC cut the target range for the federal funds rate by 25 bps at today’s meeting. However, one Committee member, who preferred to keep rates on hold, dissented. Wording in Read more…