Was a 50-basis-point cut too aggressive a move too soon?

The Federal Reserve's interest rate cut was a long time coming, the first rate reduction since 2020. But what was a 50-basis-point cut too aggressive a move too soon as Fed Chair Jerome Powell assures that the central bank is not behind the curve?

Takeaways

• Stock futures (ES=F, NQ=F, YM=F) ride higher Thursday morning after the Federal Reserve opted to cut interest rates by 50 basis points at the central bank's September meeting yesterday.
• The Bank of England held its own interest rates at 5% at its latest meeting, with other global central banks to announce their rate policies this week.
• President Biden will address the milestone rate cut by the Fed and the progress the US economy has made as inflation cools in a speech at the Economic Club of Washington, DC, this afternoon.

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