Federal Reserve Decision Summary (September 18, 2024)
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September 17, 2024
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Federal Reserve Decision Summary: September 18, 2024
Key Points:
- The Federal Reserve cut interest rates by 50 basis points, the first rate cut since 2020.
- The Fed expects to lower rates by an additional 25 basis points twice in 2024.
- One Fed official voted against the 25-basis point rate cut, the first dissent since 2005.
- The Fed is "more confident" that inflation will return to 2%.
- The Fed will "carefully assess subsequent data" and adjust its outlook accordingly.
- The Fed anticipates lowering rates by 100 basis points in 2025 and 50 basis points in 2026.
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