Fed cuts rates and makes further ‘technical adjustment’

Jerome Powell
Jerome Powell
Federal Reserve

The Federal Reserve reduced its policy rate today (September 18), but policy-makers were not all in agreement on the final decision.

The central bank also made a further “technical adjustment” to the tools it uses to influence its target rate.

The majority of voting Federal Open Market Committee members – seven out of 10 – voted to reduce its target range by 25 basis points to 1.75–2%. St Louis Fed president James Bullard, however, was in favour of a 50 basis point reduction, while Kansas Fed

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