by John Carney
Breitbart.com
The Fed Cut Again Even Though Economic Data Called for a Pause
Federal Reserve officials this week came as close as they are probably ever going to get to admitting that the aggressive interest rate reduction they enacted weeks before the 2024 election was a mistake.
The Federal Open Market Committee (FOMC), the Fed’s monetary policy unit, cut its benchmark interest rate by one-quarter of a point, reducing the federal funds rate to a range of 4.25 percent to 4.50 percent. This was widely anticipated by financial markets, with the fed funds futures market pricing in a 95 percent chance of the 25 basis point cut on the eve of the Fed meeting.