I was wrong

The US central bank, the Federal Reserve (FED), made a double reduction and lowered the policy rate by 50 basis points. The Federal Open Market Committee (FOMC) was divided in its decision on the policy cut, Michelle Bowman wanted to cut the policy rate by 25 basis points. According to The FOMC, two more cuts are expected later this year. The forecast for 2025 is a total of four reductions in the policy rate.

The FOMC writes in the statement that before future considerations about further adjustments in the target range for the FEB's funds rate (the policy rate) FOMC will carefully evaluate incoming data, how the outlook develops and the balance of risks. The FOMC emphasizes that they have become more convinced that inflation is moving steadily towards 2%, they also assess that the possibilities of reaching the employment and inflation targets are broadly balanced.

In the statement, the FOMC wrote quote "The economic outlook is uncertain, and the Committee is alert to risks to both sides of its dual mandate (price stability and maximum sustainable employment)" unquote. Stock markets rise after the announcement.