Richard

Jerome Powell

Chair

Reserve

In a widely anticipated move, the Fed cut interest rates by 25 basis points, bringing the target range to 4.50%-4.75%. The unanimous decision by the Federal Open Market Committee (FOMC) was the second rate cut in recent months.
Nick Timiraos, often referred to as the “Fed spokesman,” said the FOMC's statement was largely unchanged, reflecting cautious optimism but no major shift in policy direction. Timiraos said the decision was unanimous, indicating harmony among committee members.
Analyst Jeanna Smialek noted that the Fed has maintained its neutrality, especially after this week’s US elections. “The Fed is independent of politics and tries to avoid getting involved in important partisan moments,” Smialek said. Smialek also noted that Fed Chair Michelle Bowman, who had previously opposed the rate cut on the grounds that it was too large, voted in favor of the move.
Related News: <a href="https://en.bitcoinsistemi.com/breaking-critical-fed-interest-rate-decision-announced/" target="_blank" rel="noopener noreferrer nofollow">BREAKING: Critical FED Interest Rate Decision Announced</a>
The Fed's statement also received minor adjustments, according to Reuters' media outlet IFR. The Fed maintained a generally cautious economic outlook, but specifically omitted a line expressing confidence that inflation was steadily approaching its 2% target.
Analyst Chris Anstey observed that the Fed's statements provided limited new information, particularly on the labor market. “The statements didn't give us a lot of new signals,” Anstey said, adding that Fed Chair Jerome Powell could provide clarity at his upcoming press conference.
Former Federal Reserve Vice Chairman Richard Clarida said Powell's Fed would maintain its current course regardless of external events. Financial conditions could influence policy, but day-to-day fluctuations were unlikely to lead to significant changes, Clarida said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/top-analysts-make-first-comments-after-feds-interest-rate-decision-what-does-it-all-mean/" rel="noopener noreferrer nofollow">Top Analysts Make First Comments After FED’s Interest Rate Decision – What Does It All Mean?</a>

Top Analysts Make First Comments After FED’s Interest Rate Decision – What Does It All Mean?

Bitcoin Sistemi EN

Other articles published on Nov 7, 2024

UBS Pilots Blockchain-Based System for Enhanced Cross-Border Payments

JP Morgan Rebrands Blockchain as ‘Kinexys’ for Global Financial Services

Internet Computer’s 1,230% Cross-Chain Activity Surge: Connecting Bitcoin and Ethereum Directly

A Dollar Saved, a Fortune Gained—This $0.0005 Coin Could Be Your Golden Goose! Poised to Dethrone...

Traders Are Moving To These 3 Coins For Short-Term Gains Amid Wide Market Decline

What to expect in Gensler’s final days ahead of Trump’s pro-crypto admin

Join our free newsletter for daily crypto updates!