US Fed announces 2nd quarter-point rate cut of 2025
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The Federal Reserve cut interest rates by a quarter point for the second time this year, but the probability of a reduction at its next meeting fell after Jerome Powell, the central bank’s chair, said that officials held “strongly differing views.
Stocks and bonds initially rallied after the central bank cut interest rates on Sept. 17, but began giving up those gains before Federal Reserve Chair Jerome Powell started his post-meeting press conference.
The Japanese yen tumbled against the U. dollar on Thursday after the Bank of Japan adopted a less hawkish tone than traders expected, while the greenback was boosted after Federal Reserve Chair Jerome Powell on Wednesday said a rate cut in December was not guaranteed.
Follow MarketWatch's live coverage of Wednesday's Federal Reserve decisions, after the central bank cut interest rates by 25 basis points and said it's ending its program of "quantitative tightening" on Dec.