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Federal Reserve Decision Summary (September 18, 2024):
1. The Federal Reserve has reduced interest rates by 50 basis points, marking the first cut of this magnitude since 2020.
2. The Fed anticipates two additional 25 basis point rate cuts by the end of 2024.
3. For the first time since 2005, a dissenting vote was cast by one Fed governor, advocating for a smaller 25 basis point cut.
4. The Federal Reserve expressed increased confidence that inflation is on track to reach its 2% target.
5. The Fed emphasized its commitment to closely monitoring incoming economic data and adjusting its policy outlook as necessary.
6. Projections include a total of 100 basis points in rate cuts during 2025, followed by an additional 50 basis points in 2026.
1. The Federal Reserve has reduced interest rates by 50 basis points, marking the first cut of this magnitude since 2020.
2. The Fed anticipates two additional 25 basis point rate cuts by the end of 2024.
3. For the first time since 2005, a dissenting vote was cast by one Fed governor, advocating for a smaller 25 basis point cut.
4. The Federal Reserve expressed increased confidence that inflation is on track to reach its 2% target.
5. The Fed emphasized its commitment to closely monitoring incoming economic data and adjusting its policy outlook as necessary.
6. Projections include a total of 100 basis points in rate cuts during 2025, followed by an additional 50 basis points in 2026.
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