++ Summary of the FOMC's monetary policy decision:

1. The FED cuts interest rates by 50 bps for the first time since 2020.
2. The FED forecasts two additional 25 bps rate cuts in 2024.
3. For the first time since 2005, a FED governor dissented in favor of a 25 bps rate cut.
4. The FED has gained "greater confidence" that inflation is moving toward 2%.
5. The FED will "carefully assess upcoming data" to shape future projections.
6. The FED expects 100 bps in rate cuts in 2025 and 50 bps in 2026.