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Stock impact report

Federal Reserve cuts interest rates by half-point; first rate reduction in four years [FOX Business Network]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
benchmark rate by 50 basis points from what was the highest level in 23 years as the central bank eased borrowing costs following progress in the fight against inflation. The Fed's first interest rate cut since March 2020 lowers the benchmark federal funds rate to a range of 4.75% to 5%. Interest rates had been at a range of 5.25% to 5.5% since July 2023, the highest level since 2001, as the central bank monitored economic data for signs that stubborn inflation was trending toward its 2% target. Recent months delivered signs of progress that inflation is heading toward the Fed's target, although the latest data showed it isn't quite there yet. Inflation slowed to 2.5% on an annual basis in August, down from 2.9% the month before and well below this inflationary cycle's peak of 9.1% in June 2022. Federal Reserve Chair Jerome Powell said in a press conference following the announcement that the central bank is focused on "achieving our dual mandate goals of maximum employment an Show less Read more
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