The Federal Open Market Committee announced yesterday that it would cut interest rates for the third time this year.
Recent money market conditions that have seen the Federal Reserve resume regular repo operations for the first time in years should not delay market participants’ preparations to transition away from the London Interbank Offered Rate, New York Fed President and CEO John Williams said today.
The Federal Open Market Committee (FOMC) highlighted growing concern over economic developments that could dampen…
Structural issues in the repo market led to last week’s market turbulence.
The Federal Open Market Committee announced today that it would cut interest rates for the second time this year.
The Federal Reserve’s conduct of monetary policy is complicated by uncertainty over trade policy, in particular recent news about U.S.-Chinese trade relations, Fed Chairman Jerome Powell said today at the Kansas City Fed’s annual summit in Jackson Hole, Wyo.
Slowing domestic and global economic growth, persistent uncertainties about trade and inflation running beneath the Federal Reserve’s 2% target were key reasons behind the Federal Open Market Committee’s decision to cut interest rates for the first time in a decade.
With economic uncertainties mounting—including concerns over trade policy and slowing global growth—Federal Reserve Chairman Jerome Powell today cautioned that “monetary policy should not overreact to any individual data point or short-term swing in sentiment.”
The Federal Open Market Committee announced yesterday that it would maintain the target range for the federal funds rate at the current 2.25-2.5%.