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Market
Fed to maintain current interest rate in November 2024 FOMC meeting?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Federal Reserve official announcements and meeting minutes
Story
FOMC Minutes Reveal Division Over 50 Basis-Point September Rate Cut
Oct 9, 2024, 06:03 PM
The Federal Open Market Committee (FOMC) minutes from the September 17-18 meeting reveal a division among Fed officials regarding the size of the interest rate cut. A substantial majority supported a 50 basis-point cut, while some officials preferred a smaller 25 basis-point reduction. The minutes also indicated that almost all participants agreed that upside risks to inflation had diminished, and most participants noted increased downside risks to employment. Additionally, the committee emphasized the importance of communicating that future rate decisions would depend on the evolving economic conditions and were not on a preset course. The reduction of the balance sheet can continue for some time.
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