Todd Bishop
The US Federal Reserve held interest rates last night (18th) and, as the market expected to cut interest rates by 0.25%, this is the second interest rate cut this year.
The Fed’s Open Market Committee concluded a two-day meeting on interest rates and announced the interest rate decision at 2 am local time. The number of federal funds target interest rate range was adjusted from 2% to 2.25% to 1.75% to 2 by 7 votes to 3 votes. %.
This is the second time the Fed has cut interest rates this year. It is also the most negative vote in three years. Two of them require the interest rate to remain unchanged, and one vote requires a half interest rate cut. The Fed previously cut interest rates by 0.25% in August, the first time since 2008, when the Hong Kong Monetary Authority also lowered the discount window base rate for the first time in 10 years.
The Fed pointed out that inflation is below 2%, the labor market is still strong, economic activity has been growing at a moderate rate, and household spending has grown strongly. However, corporate fixed investment and exports have weakened. The Bureau will continue to monitor the information released in the future and adopt appropriate measures. Action to maintain economic expansion.
