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Economists who predicted the rate cut are now utterly confused about what the Fed does next
video Major Wall Street economists were largely in agreement that the Federal Reserve would cut rates by a quarter point heading into the second day of its two-day meeting on Wednesday afternoon. But after a confusing news conference by the Fed chief, their forecasts for future rate policy are now all over the place. The Fed cut its key interest rate by a quarter-point for the first time since 2008. But then Powell said after that this was just a “midcycle adjustment,” causing the stock market to drop and rates to firm. “If the Chair could not pull the Committee to 50bp (basis points) today or even a strongly ... (full story)
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