Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation…
CNBC reports that policymakers are expected to trim interest rates by a quarter point from the current target range of 4.75%-5.0%. The Fed will issue its rate decision at 2 p.m. ET Thursday.Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump's presidential election victory.
Financial markets are throwing yet another curve at the Fed: Investors have sharply pushed up Treasury yields since the central bank cut rates in September. The result has been higher borrowing costs throughout the economy, thereby diminishing the benefit to consumers of the Fed's half-point cut in its benchmark rate, which it announced after its September meeting.
Such an increase would likely upend the future rate cuts the Fed had signaled in September. At that meeting, when the policymakers cut their key rate by an outsize half-point to about 4.9%, the officials said they envisioned two quarter-point rate reductions later in the year — one on Thursday and one in December — and then four additional rate cuts in 2025.
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