There has been lots of discussion about the Fed moving its policy rate of interest by 50 basis points last week. Typically, the central bank adjusts interest rates in quarter-point increments, but last Wednesday’s rate cut was a notably bolder move. Did the Fed overreact with its jumbo rate cut? Was it a mistake to go by 50?
Powell addressed concerns that the Fed may have been slow to lower rates, emphasizing that the decision was not a sign of panic over a potential collapse in the job market.
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