The Fed Cuts Rates ✂️

September 18, 2024

Good Evening 🇺🇸,

What happened today,

Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years

The Federal Reserve on Wednesday lowered the federal funds rate to a range between 4.75%-5%.

www.cnbc.com/2024/09/18/fed-cuts-rates-september-2024-.html

  • The Federal Reserve has cut interest rates by 50 basis points, first rate cut in over 1500 days

  • Dow down 103.08 points/ S&P down 16.32 points on the day

  • The Justice Department seeks 100 million dollars from two companies that owned ship that hit the Baltimore Bridge

  • Kentucky Governor signs law banning conversion therapy in the state for minors

  • Teamsters Union will not endorse anyone for president, breaking decades of precedent

  • California Governor signs AI law to ban “deepfakes”

  • Boeing cutting executive pay and furloughing nonunion workers as strike continues

  • Hezbollah vows retaliation on Israel after the pager explosions that resulted in deaths and thousands of injuries in Lebanon on Tuesday

  • Hezbollah has second wave of attacks today as walkie-talkies blow up across Lebanon

Plus: A great photo showing what government spends money on and how much vs. what they bring in and from where

Quote of the day: "The purpose of life is to live it, to taste experience to the utmost, to reach out eagerly and without fear for newer and richer experience." – Eleanor Roosevelt

Have a great night!

P.S. Email me at [email protected] for more info on any news points in the letter!