U.S Fed Cuts Benchmark Interest Rate by 25bp
The US Federal Reserve slashed the benchmark interest rate by 25 basis points in the final moments of its two-day meeting Tuesday and Wednesday.
Fed Chair Jerome Powell said that the Fed will be more cautious moving on and that more progress on inflation is needed for further cuts.
U.S central bank has now trimmed interest rates by 100 basis point since they started cutting rates in September. The dovish shift by the Fed a few months ago was triggered by concerns about the jobs market.
Powell said the risks to the labour market had diminished, effectively removing any sense of urgency when it comes to easing. Additional 50bp of policy easing is expected in 2025, and one FOMC member voted for a hold. #U.S Fed Cuts Benchmark Interest Rate by 25bp#

