The U.S. Federal Reserve cut the federal funds rate for the first time since the pandemic in September by 50 basis points. The easing of monetary policy was highly anticipated with inflation showing further signs of deceleration and a very gradual, but worrying, rise in unemployment. Still, many were expecting a 25 basis point cut, because overall economic output remains strong–propped up by robust consumer activity.

On this episode of the 10-Minute Take, join RBC Economists Claire Fan and Carrie Freestone and special guest, RBC Chief Economist Frances Donald, as they unpack the Fed's latest interest rate decision and what red or green flags are emerging from U.S. economic data.