News snippet: WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market.
In an 11 to 1 vote that signaled less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4%-
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News snippet: WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market.
In an 11 to 1 vote that signaled less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4%-
The FOMC Press Conference is at 2:30pm EDT according to [https://www.federalreserve.gov/live-broadcast.htm](https://www.federalreserve.gov/live-broadcast.htm)
Why would they announce this and then wait to have the press conference?