The Federal Open Market Committee (FOMC) of the Federal Reserve Bank cut the overnight fed funds rate by 0.25% (25 basis points, or bps) to a range of 4.50% to 4.75%. The cut was exactly what had been anticipated for weeks, and it was the usual-size cut instead of the jumbo 50 bps cut in September.
To read Dan's full report, click on the link below and download the PDF
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