Reported 15 days ago
Federal Reserve officials, including presidents Raphael Bostic and Neel Kashkari, explained their support for a significant 50 basis point interest rate cut, citing swift improvements in inflation and a cooling job market. They emphasized the need to adjust monetary policy proactively to prevent an economic downturn, while acknowledging ongoing concerns about inflation levels not yet reaching the Fed's target. In contrast, governor Michelle Bowman expressed dissent, advocating for a smaller rate reduction in light of persistent inflation.
Source: YAHOO