The Federal Reserve lowered its benchmark interest rate by a half percentage point Wednesday, in an aggressive start to a policy shift aimed at bolstering the US labor market. The Federal Open Market Committee voted 11 to 1 to lower the federal funds rate to a range of 4.75% to 5%, after holding it for more than a year at its highest level in two decades. It was the Fed’s first rate cut in more than four years.
This a special “The Fed Decides” on Bloomberg Television that includes Fed Chair Jerome Powell’s entire press conference.
Chapters
00:00:00 welcome
00:01:00 fed impact on election
00:20:00 countdown to Fed
00:23:00 El-Erian previews the Fed
00:35:00 Kathy Jones on Fed
00:44:00 Fed Decision
00:50:00 Bob Michele
00:57:00 Diane Swonk
01:14:00 Powell press conference begins
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