The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points on Wednesday, and may cut it again twice before the end of this year. However, committee members expect to only lower their membership once again next year.
The newly appointed director Stephen Milan is the only one who opposes this interest rate cut. In July of this year, directors Waller and Baumann also held different opinions on whether to maintain interest rates, marking the first time since 1993 that multiple directors had objections to interest rate decisions.
Powell: Consider this interest rate cut as’ risk management ‘
Federal Reserve Chairman Powell said that this interest rate cut is mainly aimed at controlling economic risks.
He also said that the situation in the labor market is changing and is clearly cooling down, with zero growth.
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