The median of the Fed's dot plot: the cumulative interest rate cut will be 100 basis points in 2024

Odaily News Federal Reserve FOMC statement: The members passed the interest rate decision with an 11-1 vote ratio, and the last meeting was unanimous. The Federal Reserve cut interest rates by 50BP for the first time. The three major U.S. stock indexes rose in the short term. The Dow Jones Industrial Average is now up 0.79%, the S&P 500 is up 0.86%, and the Nasdaq is up 0.98%. The Federal Reserve's dot plot shows that among the 19 officials, 2 officials believe that there should be no further interest rate cuts in 2024 after this meeting, 7 officials believe that there should be another 25 basis point cut in 2024, 9 officials believe that there should be another 50 basis point cut in 2024, and 7 officials believe that there should be another 75 basis point cut in 2024. (Jinshi)