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The Federal Reserve lowered its benchmark rate at its September meeting, but is divided about whether further cuts will be needed this year. Co-Head of Global Bonds Nick Maroutsos says the stance creates uncertainty for investors and ignores structural challenges in the global economy.
As expected, the Federal Reserve (Fed) lowered its benchmark rate today a quarter percentage point. It was the second consecutive time the central bank cut rates, and it brings the Federal Funds rate to a range of 1.75-2.0%.