FED UPDATE Monetary policy has a long lag, do you see the 0.5% cut today as a catch-up move since you did not cut in July? FED: If you talk to businesses, most of them will say the economy is still fine, so our cut is timely. Going back to July, some data was released after our meeting. If we had that data before, would we have cut in July? Possibly, but the situation did not unfold that way.
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