Data: Fed Starts Rate Cut with 50bp, Fourth Time in History, Exceeding Market Expectations in Part
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September 19, 2024
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ChainCatcher News: CICC Comments on Fed's 50bp Rate Cut
ChainCatcher News reports that CICC released a commentary on the Fed's 50bp rate cut, stating that the 50bp cut is an unconventional start, partially exceeding market expectations.
The 50bp rate cut aligns with CME interest rate futures expectations but surpasses forecasts from many Wall Street investment banks, marking an "unconventional" start.
Historically, 50bp rate cut initiatives have only occurred during economic or market emergencies, such as the January 2001 tech bubble, the September 2007 financial crisis, and the March 2020 pandemic.
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