The Federal Reserve's interest rate cut was a long time coming, the first rate reduction since 2020. But what was a 50-basis-point cut too aggressive a move too soon as Fed Chair Jerome Powell assures that the central bank is not behind the curve? Takeaways Stock futures (ES=F, NQ=F, YM=F) ride higher Thursday morning after the Federal Reserve opted to cut interest rates by 50 basis points at the central bank's September meeting yesterday. The Bank of England held its own interest rates at 5% at its latest meeting, with other global central banks to announce their rate policies this week. President Biden will address the milestone rate cut by the Fed and the progress the US economy has made as inflation cools in a speech at the Economic Club of Washington, DC, this afternoon. Yahoo Finance's flagship show, Morning Brief, is the ultimate guide to making smarter portfolio decisions. Find this and other episodes of Morning Brief here. Thoughts? Questions? Fan mail? Email us at [email protected]. Yahoo Finance's Morning Brief is hosted by Seana Smith and Brad Smith. Learn more about your ad choices. Visit megaphone.fm/adchoices