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FOMC Puts Risk on Downside Growth, Inflation Off Radar, Analysts Say

Economists say the unanimous FOMC decision to cut the Federal funds target rate by 50 basis points came as no surprise. Many said the statement is particularly dovish and points to further rate cuts come December 16.

The accompanying statement said economic activity had decreased markedly from a decline in consumer expenditure, and noted that inflationary pressures are expected to stabilize.

Charmaine Buskas, senior economics strategist at TD Securities, said markets had...