As widely expected, the Federal Open Market Committee (FOMC) of the Federal Reserve cut the fed funds interest rate by 0.5% (or 50 bps) at its September meeting.
Outside of the emergency cuts during the Covid era, it was the first reduction in five years, and it came after the Fed had gone on an aggressive campaign of raising rates to fend off inflation.
To read Dan's full report, click on the link below and download the PDF
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