SignalsAZ.com Prescott News Podcast - Federal Reserve Cuts Rates Quarter Point

Episode Date: November 8, 2024

Send us a text and chime in!Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has progressed toward the Committee's 2 percent objective but remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides... For the written story, read here >> https://www.signalsaz.com/articles/federal-reserve-cuts-rates-quarter-point/Check out the CAST11.com Website at: https://CAST11.com Follow the CAST11 Podcast Network on Facebook at: https://Facebook.com/CAST11AZFollow Cast11 Instagram at: https://www.instagram.com/cast11_podcast_network

Text-to-speech audio articles made possible by the Quest Grant at Yavapai College. Tuition-free industry recognized certificates for your career. Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has progressed toward the committee's 2% objective but remains somewhat elevated. The committee seeks to achieve maximum employment and inflation at the rate of 2%. percent over the longer run. The committee judges that the risks to achieving its employment and

inflation goals are roughly imbalance. The economic outlook is uncertain, and the committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the committee decided to lower the target range for the federal funds rate by one-quarter percentage point to four-half to four three-quarters percent. In considering additional adjustments to the target range for the federal funds rate, the committee will carefully assess incoming data, the evolving outlook, of risks. The committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities. The committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective. In assessing the appropriate stance of monetary

policy, the committee will continue to monitor the implications of incoming information for the economic outlook. The committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerged that could impede the attainment of the committee's goals. The committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair, John C. Williams, vice chair, Thomas I. Barkin, Michael S. Barr, Raphael W. Bostick, Michelle W. Bowman,

Lisa D. Cook, Mary C. D. D. D. D. D. G. G. Gawley, Beth M. Hammock, Philip N. Jefferson, Adriana D. Coogler, and Christopher J. Waller.