Fed to cut rates, but with a new landscape to decipher after Trump win
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The US Federal Reserve is expected to cut its benchmark policy rate by 0.25% on Nov 9, 2024, to a range of 4.5% to 4.75%; Donald Trump won the US election on Nov 5, 2024, potentially leading to GOP control of Congress; Trump's policies may impact economic growth, inflation, and federal deficits; Fed Chair Jerome Powell's term runs through May 2026; market confidence in future rate cuts has weakened, with expectations of a rate ending between 3.75% and 4% by mid-2025; Fed officials state they do not set policy based on administration proposals but respond to economic outcomes.

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