Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year. The Federal Open Market Committee voted 11-1 to cut the target range for the federal funds rate to 4%-4.25%, with one official favoring a larger cut.
Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates.
This is a special “Bloomberg Surveillance: The Fed Decides.”
Guests include:
Charles Schwab’s Kathy Jones
SocGen’s Subadra Rajappa
Former New York Fed President Bill Dudley
JPMorgan’s Bob Michele
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