And welcome to meet the press now.

And welcome to meet the press now.

I'm Aaron Gilchrist and that, you just heard it there.

That is the closing bell at the New York Stock Exchange today.

This is following the Federal Reserve slashing its key interest rate by an aggressive half a percentage point.

Now, the reaction from the market fairly

subdued today with stocks moving slightly higher immediately after the news and then coming back

down a bit to close roughly flat on the day. Now, this is the central bank's first interest

rate cut since the pandemic, as it warned the economic outlook was uncertain. During a press

conference this afternoon,

Fed Chair Jerome Powell told reporters

the cut was a good start and a sign of confidence.

What message are you trying to send American consumers,

the American people, with this unusually large rate cut?

I would just say that, you know, the U.S. economy is in a good place and our decision

today is designed to keep it there.

More specifically, the economy is growing at a solid pace.

Inflation is coming down closer to our 2% objective over time.

And the labor market is still in solid shape.

Is the Federal Reserve effectively declaring a decisive victory over inflation and rising prices?

No. We're not.

Now, the move to cut rates for the first time in four years comes just 48 days before Election Day,

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