Fed Cuts Rates by Half Point in Bid to Defend Economy

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF . Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey and Brent Schutte, Chief Investment Officer at Northwestern Mutual Wealth Management Company, discuss the Federal Open Market Committee voting to lower the benchmark rate by 50 basis points to target range of 4.75%-5.0%, the first rate cut in more than four years. Bloomberg News Hedge Fund Reporter Katherine Burton explains why billionaire hedge fund founder Steve Cohen is no longer investing clients’ capital for Point72. Bloomberg News Senior Editor Dimitra Kessenides has Businessweek Magazine’s Best Business School Rankings for 2024–25. Hosts: Carol Massar and David Gura. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.