Fed Cuts Rates by a Quarter Point, as Expected

Core Points - The Federal Reserve has lowered interest rates by a quarter percentage point, bringing the target for the federal-funds rate to a range of 3.75% to 4.00% [2] - This decision was anticipated by investors, with the interest-rate futures market indicating a 100% probability of the rate cut prior to the announcement [2] - The Federal Open Market Committee expressed concerns about elevated uncertainty regarding the economic outlook and noted an increase in downside risks to employment in recent months [3]