The Federal Reserve decided, as was expected by experts, to cut rates by 25 basis points.
Lauren Goodwin, economist and strategist at New York Life Investments, sat down with TheStreet to break down what this rate cut means for investors.
"I think what's most important for investors to keep in mind is not what's different between yesterday and today, but the longterm trajectory that the Fed is on and what this means for their economic outlook. And so what the Fed is telling us is that the economy's slowing, there are risks to the downside, but that things are generally okay. This isn't a panic decision. And so the first piece of advice we have for investors is to stay invested. It's a little bit too early to run for the hills," said Goodwin.
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