If the market doesn't seem sure whether or not to expect a base interest rate cut next month, it's not alone-members of the Federal Open Market Committee (FOMC) themselves may have little clue which way the vote is going to go. In the run-up to this week, the mood was one of disappointment that the FOMC wouldn't deliver a final cut for 2025, an action many analysts had priced in since this summer.
This article will be updated throughout the day, so check back often for more daily updates. As expected, the Federal Open Market Committee (FOMC) announced a 0.25% reduction in its target interest rate yesterday, to a range of from 3.75% to 4% - but the stock market reacted almost not at all. The Vanguard S&P 500 ETF ( NYSEMKT: VOO) gained less than 0.1% yesterday, and it's down a sizeable 0.5% in early trading this morning.
