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  • Dec 18, 2024

Fed cuts rates 25 bp, scales back 2025 easing projections

The reduction by the central bank's Federal Open Market Committee in the benchmark policy rate to the 4.25%-4.50% range was opposed by Cleveland Fed President Beth Hammack, who preferred to leave the policy rate unchanged. U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025. Fed Chair Jerome Powell said at a press conference after the release of the FOMC statement that it's too soon to say what President-elect Donald Trump's proposed economic policies will do to the economy or how that might bear on Fed policies.

  • Dec 18, 2024

Gold Falls to One-Month Low After Fed Signals Less Easing

(Bloomberg) -- Gold fell to the lowest price in a month after the Federal Reserve reduced interest rates and forecast less monetary easing for 2025.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousUS policymakers lowered their benchmark interest rate for a third consecutive time on Wednesday, but reined in the number of cuts they expect in 2025, signaling greater caution over how quickly they can continue reducing borrowing costs.New quarterly forecasts show

  • Dec 18, 2024

Fed's Powell not ready to say what Trump policies will do to economy

Federal Reserve Chairman Jerome Powell said Wednesday it's too soon to say what President-elect Donald Trump's proposed economic policies will do to the economy and how that might bear on the central bank's policy choices. "We need to take our time, not rush” and see what the new president delivers, Powell said, amid economists' expectations that tariffs and deportations favored by Trump are likely to push inflation higher.

  • Dec 18, 2024

Fed Tweaks Rate on Key RRP Tool for First Time Since 2021

(Bloomberg) -- The Federal Reserve, in addition to its main interest-rate cut, lowered the rate on a facility used to help control its benchmark as it aims to keep US funding markets running smoothly.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousOfficials lowered the rate on the overnight reverse repurchase agreement facility relative to the lower bound of the target range by 5 basis points, according to their Wednesday policy statement. Taken together wi

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