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(REPEAT) The FOMC cut rates by 25 bps and.......>

FED
MNI (London)
FED: (REPEAT) The FOMC cut rates by 25 bps and lowered both the IOER and ON RRP
rate by 25 bps. Deletes "will act as appropriate to sustain the expansion." Says
it "will continue to monitor" incoming data as it "assesses the appropriate path
of the target range for the federal funds rate." FOMC continued to say that
"uncertainties to the outlook remain." Paragraph 1 little changed except to say
business fixed investment and exports "remain weak." The FOMC notes that the
economic expansion will continue, while core inflation still running below 2
percent. The FOMC remains divided with 2 hawkish dissents from George and
Rosengren.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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