United States Fed cuts rates but no hint on December move

We still expect the Fed to cut rates again in December and then move to every other meeting in 2025, writes KPMG Chief Economist Diane Swonk.

The Federal Open Market Committee (FOMC) voted to cut rates by another quarter point at the November meeting. That lowered the fed funds rate from a target range of 4.75 percent-5 percent in September to 4.5 percent 4.75 percent in November. The Fed continued its reductions in its security holdings, or quantitative tightening. The statement following the meeting was a little more hawkish: “Inflation has made progress toward the Committee's 2 percent objective but remains somewhat el...

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Authors: Diane Swonk

Published Date: 08 November 2024