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[Chief Investment Officer: Weak Labor Market is the Main Reason for Fed Rate Cut] Michael Rosen, Chief Investment Officer at Angeles Investments, stated that this rate cut aligns with expectations. The Federal Reserve approved a 25 basis point rate cut with a vote of 9 to 3, with Schmid and Goolsbee supporting no rate cut, while Milan advocated for a 50 basis point rate cut. The statement emphasized that the weak labor market is the main reason for the rate cut, suggesting that the Fed may continue to ease policy, although the expectation of implementing a 25 basis point rate cut next year remains unchanged.