Federal Reserve cuts interest rates by a quarter point

The Federal Reserve approved a 25 basis point interest rate cut, lowering the benchmark rate to 4.50%-4.75%, following a previous half percentage point reduction in September. The move was widely expected and resulted in record highs for the Nasdaq and S&P 500, with Treasury yields dropping. The post-meeting statement indicated a balanced view on achieving employment and inflation goals, signaling a less aggressive but continued effort in monetary policy adjustment.

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