Fed cut rates by 25bps to 4.00-4.25%, as expected, citing a shift in risk balance. Bowman and Waller joined consensus, calling for a 25bps reduction; new Governor Miran dissented, preferring a 50bps cut.Nine of the 19 Fed officials see two additional cuts in 2025, two see one cut, and six see no more reductions.Fed Chair Powell said he doesn't feel the need to move quickly on rates, and that “you could think of the cut as a risk management cut”, and that decisions...
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