In a closely watched decision this past Wednesday, the Federal Reserve opted for a bigger-than-usual 50-basis point rate cut. While rate cuts of that size are typically reserved for periods of economic crisis, Fed Chair Jerome Powell attempted to thread the needle in his accompanying commentary, positioning the dramatic cut as a recalibration of central bank policy as the group shifts its focus from the fight against inflation toward the recently softening labor market. Moreover, the central bank’s forecasts indicated that further cuts are in the pipeline, with two more traditional cuts of 25 …