Breaking: Fed cuts interest rates for third time this year

The decision came at the conclusion of a two-day meeting of the Federal Open Market Committee, the central bank’s monetary policymaking arm.

While Wall Street had anticipated such a move, market observers will still dissect every sentence from Fed Chairman Jerome Powell’s press conference later in the afternoon for any sign that more cuts are on the way.

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“Words matter,” Nela Richardson, an investment strategist with Edward Jones, told Reuters. “The Fed’s toolbox isn’t just increasing or lowering the federal funds rate — it’s also how they communicate with markets.”

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