$USINTR -Feds Cuts RatesECONOMICS:USINTR
(November/2024)
source: Federal Reserve
-The Fed lowered the federal funds target range by 25 basis points to 4.5%-4.75% at its November 2024 meeting, following a jumbo 50 basis point cut in September, in line with expectations.
Policymakers reiterated their previous message that they will carefully assess incoming data, the evolving outlook, and the balance of risks when considering additional adjustments to borrowing costs.
On the economic front, the Fed noted that recent indicators suggest that economic activity has continued to expand at a solid pace.
Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low.
Inflation has made progress toward the 2% objective but remains somewhat elevated.
However, officials removed a reference they had “gained greater confidence” that inflation is moving toward the target.
