The Inaugural Rate Cut

It could be a momentous week for U.S. monetary policy. The Federal Reserve (Fed) is expected to cut its policy interest rate for the first time in 10 years on July 31, the last day of its next policy meeting [Figure 1].

The Fed has strongly hinted toward a rate cut at this meeting, even prepping investors for this decision with a language shift at its June meeting. Still, this is uncharted territory for much of Wall Street, as well as the current set of Fed central bankers.

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