🇺🇸 SUMMARY OF FED DECISION (11/7/24):

1. Fed cuts interest rates by 25 bps in 2nd cut of 2024

2. Vote for 25 basis point rate cut was unanimous

3. Fed says risks to goals remain "roughly in balance"

4. Labor market conditions have "generally eased"

5. Fed removes "gaining confidence" on inflation moving to 2%

6. Fed will continue to reduce its balance sheet

We expect another 25 basis point rate cut in December.


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