From: The Bloomberg Close <noreplygmad.bloombergbusiness.com> To: Subject: Cut and done? Date: Wed, 30 Oct 2019 21:33:12 +0000 Bloomberg Good afternoon. Here's what you need to know to end your day. • The Fed came through with a cut, but that might be it for a while. • Facebook and Apple exceeded earnings expectations. • A jug of wine, a loaf of bread—and manga. The Fed slashed interest rates for the third time this year, but signaled policy may stay on hold for the time being. The FOMC dropped its pledge to "act as appropriate to sustain the expansion," while adding a promise to monitor data as officials assess their next move. Two members voted against the 25 basis point cut, preferring no change. Traders trimmed bets of more easing this year. • "Monetary policy is in a good place," Fed Chairman Jerome Powell told a news conference following the decision. "We see the current stance of policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook." • Meanwhile, the Treasury expressed continued interest in issuing a 50-year bond, for the first time, as part of efforts to expand its investor base as the budget deficit widens to $1 trillion. The department said it's also weighing a 20-year bond and an inaugural floating-rate note with a one-year maturity linked to SOFR. • America's GDP increased at a 1.9% annualized rate in the third quarter, topping expectations for 1.6% growth as helped the economy expand. Still, that's down from 2% in the second quarter and is the lowest since the end of 2018. resilient consumers VJ Facebook's sales rose a better-than-projected 29%, weathering a period rife with regulatory challenges and criticism by boosting ad revenue and EFTA00083661