Republican presidential candidate Donald Trump said the Federal Reserve’s decision to lower its benchmark interest rate by a half percentage point was a “political move” and that a smaller cut would have been preferable.

The Federal Reserve made a 0.50 percentage point cut, double the typical reduction. Here's what's behind the decision.

Other valuation measures, including price-to-book value and price-to-sales, also show stocks are well above their historic averages, Societe Generale analysts said in a note. U.S. equities are trading at five times their book value, for instance, compared with a long-term average of 2.6.