US EditionFed poised to cut rates this week, with more easing likely on tap
The Federal Reserve aims to support the labor market during a government data blackout by cutting rates to 3.75%-4.00%, with markets expecting further cuts in December and January.
- On Wednesday, Oct. 29, the Federal Reserve is widely expected to cut rates by a quarter-point, lowering the federal funds rate from 4.1% to about 3.9%.
- Fed chair Jerome Powell has flagged a softer labor market and rising downside employment risks, while inflation remains above target at 3% in September.
- On Monday afternoon, CME FedWatch projected a 98% chance of a cut, with financial markets pricing above 90% odds for December, while the average 30-year mortgage rate fell to about 6.2% from 6.6% and monthly hiring gains averaged 29,000 pre-shutdown.
- Borrowers would see lower costs for mortgages, auto loans and credit cards if the Fed cuts, and consecutive cuts this year could bring relief to those financing homes, cars and credit cards.
- Fed officials are split over how many cuts to pursue, with nine of 19 officials supporting two or fewer reductions amid a government shutdown data blackout.
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Federal Reserve likely to lower key rate and may signal another cut to follow
WASHINGTON — The Federal Reserve will almost certainly cut its key interest rate on Oct. 29 and could signal it expects another cut in December as the central bank seeks to bolster hiring.
Federal Reserve likely to cut key rate Wednesday and may signal another cut to follow (World)
The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to bolster hiring. A cut Wednesday would be the second this year and could benefit consumers by bringing down borrowing costs for mortgages a...
Associated Press News
Federal Reserve likely to cut key rate Wednesday and may signal another cut to follow
The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to bolster hiring.
The Fed will likely cut rates this week. Here's what it means for you.
The Fed will likely cut interest rates this month.Chip Somodevilla/Getty ImagesThe Fed is expected to cut interest rates in its October meeting.The government shutdown means jobs data hasn't been released, while inflation came out late.Rate cuts could ease mortgage and credit card borrowing costs for consumers.The Fed is set to make its October interest rate decision on schedule, even as the government shutdown drags on.In its seventh meeting of…
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