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Fed Last Month Saw Rising Risks to Job Market, but Remained Wary on Inflation - BusinessWorld Online

Fed officials are split on inflation risks and labor market weakness, with most backing further rate cuts this year and inflation remaining above the 2% target, minutes show.

  • On Wednesday, the FOMC minutes showed most participants judged it likely appropriate to ease policy this year, while a majority emphasized upside risks to inflation.
  • After new labor data showed weakness, Federal Reserve officials cited a Bureau of Labor Statistics payroll revision of more than 900,000 jobs lower, raising downside risks to employment and prompting easing talks.
  • The new governor, Stephen Miran, argued in the minutes that he dissented in favor of a 50 bps cut at the September meeting, citing heterodox views on the neutral rate.
  • Markets reacted with Bitcoin briefly above $124,000, and CME FedWatch currently prices a 92.5% chance of a 25-bps cut at the October 29 meeting.
  • Based on median projections, Fed officials expect two additional 25-basis-point cuts this year as Fed staff projections through 2028 show higher GDP growth and inflation reaching the 2% target by 2027.
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Zero Hedge broke the news in United States on Wednesday, October 8, 2025.
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