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Last week the US Federal Reserve cut rates by 25 basis points. Not much of a surprise there. Rate markets had been pricing in a cut with near certainty.
In the press conference, Fed Chair Jay Powell emphasized that the Fed is unlikely to cut rates any further because its benchmark funds rate is in a good place.
After a better-than-expected jobs report in October, a slew of Fed speakers, including the uber-dovish President of the Federal Reserve Bank of Minneapolis Neel Kashkari, indicated that the likelihood of