Here are five key takeaways from the Fed's big interest rate decision
1. Fed cuts interest rates to 4%-4.25%, lowest in nearly three years. 2. Expect two more cuts in 2025, with rates potentially at 3% by 2027. 3. Initial market rally faded; S&P 500 and Nasdaq both recorded losses. 4. Treasury yields diverge; lower short-term but higher long-term yields noted. 5. Political dynamics observed with new Governor Miran attending his first meeting.