- Federal Reserve Press Release: - Federal Reserve issues FOMC statement.
- Bankrate: Fed’s interest rate history: The federal funds rate from 1981 to the present.
From Reuters: Fed seen cutting rates another 50 bps in November.
Inflation by the Fed's targeted measure, the year-over-year rise in the personal consumption expenditures price index, was 2.2% in August, the Commerce Department reported.
That's in line with what Fed Chair Jerome Powell said he expected in a news conference after last week's half-point cut. The big start to what's expected to be further reductions in the policy rate ahead was aimed at bolstering what Fed policymakers see as a softening but still-solid labor market.
"If the Fed wants to cut by another 50 basis points in November, the inflation data isn't going to stand in their way," wrote Inflation Insights Omair Sharif after the report. "In fact, the faster inflation cools, the more impetus there is for them to move faster to get to neutral."
- Who is Jerome Powell?
- What is the Chair of the Federal Reserve System?
- What is the personal consumption expenditures price index?
