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.

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This post was written by Luke Carberry Mogan.