The Fed’s 0.5% Rate Cut Delivered New Market Highs
By Louis Navellier Last Wednesday, the Federal Open Market Committee (FOMC) statement announced a surprising 0.5% key interest rate cut and signaled another 0.5% in rate cuts for the rest of this year (two 0.25% cuts in each of the November and December FOMC meetings). For the first time since 2005, this was not an unanimous decision, since Fed Board member Michelle Bowman voted for only a 0.
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