On Wednesday, the Federal Reserve announced they would be reducing the federal interest rate by 0.5 points, which has not gone down since the pandemic in 2020.

The Federal Reserve announced they were cutting the federal interest rate by half of a percent this week. That doesn’t come as a shock that there would be a cut to Richard Baker, who leads Fervent Wealth Management.

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates