Fed Decision Not as Bad as the Market Feared, JPMorgan's Michele Says

Core Viewpoint - The Federal Reserve's decision to cut rates by 25 basis points is perceived as "not as bad as it could've been" according to Bob Michele, the global head of fixed income at JPMorgan Asset Management [1] Summary by Relevant Sections - The Federal Open Market Committee voted 9-3 to lower the rate, indicating a divided opinion among members regarding the policy direction [1] - There were dissents on both ends of the policy spectrum, highlighting differing views on the appropriateness of the rate cut [1]