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HomeMarket NewsUS Fed Meeting LIVE Updates: Dow drops 150 points, reversing gain as Powell says Fed may not cut again this year
US Fed Meeting LIVE Updates: The US Federal Reserve officials delivered a second straight interest rate cut on Wednesday (October 29), lowering the benchmark rate by 25 basis points to a range of 3.75%–4%, as they seek to cushion a softening labour market. The Fed also announced it will halt the reduction of its asset holdings effective December 1, ending the balance sheet runoff that began earlier this year.
US Fed Meeting LIVE Updates: The US Federal Reserve officials delivered a second straight interest rate cut on Wednesday (October 29), lowering the benchmark rate by 25 basis points to a range of 3.75%–4%, as they seek to cushion a softening labour market. The Fed also announced it will halt the reduction of its asset holdings effective December 1, ending the balance sheet runoff that began earlier this year.
In its post-meeting statement, the Federal Open Market Committee (FOMC) said “job gains have slowed” and noted that “risks to employment rose in recent months.” Policymakers described economic growth as “moderate” and acknowledged that inflation “has moved up since earlier this year and remains somewhat elevated."
The decision was not unanimous. Governor Stephen Miran dissented in favour of a deeper, half-point rate cut, while Kansas City Fed President Jeff Schmid voted to hold rates steady, marking opposition from both the dovish and hawkish ends of the committee.
