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Rate Cuts and the Myth of the All-Powerful Federal Reserve
The Federal Reserve cut interest rates by another quarter-point Wednesday, reducing the fed-funds target range to 3.50% – 3.75%. Headlines dubbed this a “hawkish cut,” as policymakers added a new line pledging to “carefully assess incoming data, the evolving outlook, and the balance of risks” before making another move. The prospect of a 2026 without […]
