Fed reduces rates but signals pause

Jerome Powell
Jerome Powell: risks have moved in a “positive direction”

The Federal Reserve reduced its policy rate for the third consecutive time today (October 30), but indicated that rates may now stay on hold for some time.

The Federal Open Market Committee decided to lower the federal funds target range by 25 basis points to 1.5–1.75%.

Powell said in today’s press conference that the committee sees the current stance of policy “as likely to remain appropriate” as long as incoming data doesn’t cause a “material reassessment” of its outlook.

Powell added that

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