Powell: 50 Basis Point Rate Cut Did Not Receive Broad Support

BlockBeats News, September 18th, Federal Reserve Chairman Powell stated that there was not broad support for a larger, 50-basis-point rate cut at this week's meeting, following the Fed's previous 25-basis-point rate cut. "Today, there was not broad support for a 50-basis-point rate cut," Powell told reporters at a press conference. "You know...over the last five years, we have done very large rate increases and decreases, and that usually happens when policy is significantly out of alignment and needs to quickly move to a new level." (Golden Finance)