Fed eases by 25bp as concerns grow over US labour market
Experts differ over impact of tariffs on inflation and unemployment
The Federal Open Market Committee voted to lower the federal funds rate by 25 basis points today (September 17). The only FOMC member who voted against the decision was Stephen Miran, the newly appointed governor and ally of US president Donald Trump, who favoured a 50bp cut.
At the press conference announcing the decision, the chair of the Federal Reserve Jerome Powell said there had not been “widespread support at all” for a 50bp reduction.
The risks of higher and more stubborn inflation
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