Fed Chair Jerome Powell’s remarks following the Federal Open Market Committee’s (FOMC) move to cut its benchmark lending rate by 50 basis points strengthened Morgan Stanley’s expectation for a string of quarter-point cuts into the middle of next year,

The Federal Reserve announced an interest rate policy decision to cut interest rates by 0.5% on September 18. This decision was accompanied by FOMC member forecasts.

The Federal Reserve made a 0.50 percentage point cut, double the typical reduction. Here's what's behind the decision.