Fed Takes Out More ‘Insurance’, Cuts Rates For Third Time, Drops ‘Act As Appropriate’ Language

Fed Takes Out More ‘Insurance’, Cuts Rates For Third Time, Drops ‘Act As Appropriate’ Language

As expected, the Fed cut rates for a third time on Wednesday. Some say this will be the last cut in what policymakers have been keen to insist is merely a "mid-cycle adjustment", not the beginning of a prolonged easing push. In the statement, the Fed ditched the "act as appropriate" language, which some market participants may view as making a December cut less likely. That said, the Fed preserved references to vigilance around incoming data, a nod to the possibility of more easing.  "Uncertai
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