Fed cuts by 25bp amid another three-way split on FOMC
Miran votes for deeper cut, and Goolsbee and Schmid opt to hold, as experts point to stagflation risks
The US Federal Reserve today (December 10) voted to make its third successive 25 basis point cut, thereby taking the federal funds rate to a range of 3.5–3.75%.
It was the Federal Open Market Committee’s (FOMC) second successive meeting in which the vote split three ways. US president Donald Trump’s latest nominee to the Fed board, Stephen Miran, voted for a 50bp cut, while Austan Goolsbee and Jeffrey Schmid, presidents of the Federal Reserve Banks of Chicago and Kansas City respectively, voted
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