The Fed is cutting interest rates for the second time amid signs of labor market weakness
Jerome Powell delivers remarks after announcing the Feds decision on interest rates.
This page The Federal Reserve On Wednesday it announced its second rate of cuts this year as policy makers moved to support the labor market despite the opening of the economy.
Policymakers voted to cut the benchmark Federal Funds rate by 25 basis points to a new range of 3.75% to 4%. The move follows a rate cut in September, which was the first cut this year.
Policymakers have been cautious Economic data, Which has shown a decline in the labor market in recent months as businesses deal with changes in trade and migration. At that time, inflation was reduced as high as the relative price and relative prices of hikifs in the government data list.
Those measures have put the Fed in a bind as it looks to meet its twin goals of stable rates along with a recently raised 2% monetary growth target.
The Federal Open Market Committee (FOMC), which directs the central monetary policy, notes that there is an announcement on both sides of its trend as the jobs side has decreased but will be lower, while inflation has increased and is still increasing.
The FOMC vote in favor of a rate cut was 10-2. The governor of RefeSth Stephen Miran was based on the love of a larger cut of 50 basis of the cut, and the Kansas City president of Jeffrey Schmid opposed the cut levels in this meeting.
Fed chair Jerome Powell said at a post-announcement conference where policymakers remain focused on the double approval and found that veravict has slowed down that the outlook for employment and inflation has not changed much since the meeting in September. “
“Although the official employment data for September is delayed, the available evidence shows that both -roff and hiring remain low, and that the perception of efforts to find employment difficulties and hiring difficulties continue to decline,” said Powell.
“Commodity inflation has caught on
“We are committed to supporting greater employment, which reflects our positive increase in our 2% target and maintaining long-term expectations,” Powell said. “Our success in delivering on these goals is important to all Americans. We understand that our actions affect communities, families and businesses across the country. Everything we do is for the public.” Everything we do is used for our social mission. “
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