A Friend in the Fed

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Wednesday’s 50 basis-point cut shows that the Federal Reserve is finally getting back on the same page with financial markets, Jeff Macke said on Closing Bell.

The strong accompanying statementby the FOMC paints the picture of a newly vigilant central bank that is ready to intervene when necessary, according to Jeff. He thinks Wednesday’s action should quiet some of the Fed’s harshest opponents. (Indeed, CNBC’s leading Fed critic Jim Cramer pledged after the rate cut that “all is forgiven.”)

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