"If the Fed cuts interest rates by 1%-point and the entire yield curve declines by 1%-point, then daily interest expenses will decline from $3 billion per day to $2.5 billion per day," Sløk estimated.
"The jumbo half-point cut wasn't necessarily indicative of the pace of future cuts," Powell said, highlighting concerns about sustaining rate cuts amidst a strong employment market.
"The latest consumer price index report showed inflation is cooling but is a bit stickier than expected," reflecting the complexities facing monetary policy.
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