Economic Policies

Fed Expects to ‘Gradually’ Lower Interest Rates: FOMC Minutes

Financial markets anticipate another quarter-point rate cut in December.
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Fed Expects to ‘Gradually’ Lower Interest Rates: FOMC Minutes
Screens on the trading floor at the New York Stock Exchange display a news conference with Federal Reserve Chair Jerome Powell following the Federal Reserve rate announcement, in New York City, on Sept. 18, 2024. Andrew Kelly/Reuters
Andrew Moran
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The Federal Reserve anticipates that interest rate cuts will be implemented gradually, according to recently released minutes from the November 6–7 meeting of the policy-making Federal Open Market Committee (FOMC).

At that meeting, FOMC members overwhelmingly voted to lower the federal funds rate by 25 basis points, to a new range of 4.5–4.75 percent, signaling further loosening of restrictive monetary policy.

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Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."