The Federal Reserve announced a 25 basis point rate cut last night

At 3 AM Beijing time on December 19, the Federal Reserve announced a highly anticipated decision: to lower the benchmark interest rate by 25 basis points, reducing the target range for the federal funds rate from 4.5% to 4.75% down to 4.25% to 4.50%. This marks the third consecutive rate cut by the Federal Reserve since it initiated a easing cycle in September 2024, bringing the total rate cut to 100 basis points.

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