$USINTR -Fed Cuts Rates by 50 BPS
USINTR- The Federal Reserve lowered its benchmark interest rate by 50bps to 4.75%-5% in light of the progress on inflation and the balance of risks.
It is the first rate cut since March 2020 after holding it for more than a year at its highest level in two decades.
Will Feds decision of cutting 50bps tumble the markets in spite of fear for U.S and Global Markets indicating Recession brewing around the corner ?
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