Wall Street Week
Instant Reaction: The Fed Decides
Nov 7, 2024
Tom Keene, a seasoned Bloomberg journalist, leads a discussion featuring Rich Clarida, former Federal Reserve Vice Chair; Bob Michael, a bond market expert; Diane Swank of KPMG; and Deutsche Bank's Matt Lozetti. They delve into the Fed's recent interest rate cut and its implications for the labor market. The group examines inflation trends and the influence of tariffs on economic perceptions. They also explore the challenges facing the bond market amid rising yields and the broader impacts on global economies as fiscal policies evolve.
30:54
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Quick takeaways
- The Federal Reserve's unanimous decision to cut interest rates aims to balance employment and inflation risks in a shifting economic landscape.
- Expert discussions post-announcement indicate that potential fiscal policies could significantly alter growth forecasts and tax strategies moving forward.
Deep dives
Federal Reserve's Interest Rate Decision
The Federal Reserve announced a 25 basis point cut to its benchmark interest rate, bringing it to a target range of 4.5% to 4.75%. This unanimous decision comes with a slight change in their statements about inflation, indicating that while progress has been made, inflation remains somewhat elevated. The Fed suggests that it will continue to assess economic conditions, emphasizing that risks to employment and inflation goals are roughly balanced. Policymakers are cautious and open to further adjustments to the rate but have provided no concrete guidance beyond this meeting.
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