PANews, November 10 news, according to Jin Shi reports, the Federal Reserve announced a rate cut of 25 basis points this week as expected, lowering the target range for the federal funds rate to 4.5%-4.75%. All 12 members of the FOMC voted in favor of the rate cut. The policy statement removed references to progress on inflation and greater confidence in achieving targets, emphasizing attention to dual risks of employment and inflation. Federal Reserve Chairman Powell stated that future cuts will be accelerated or slowed based on economic conditions, and given the current high uncertainty, it is not appropriate to provide too much forward guidance, but they will gradually move towards a neutral policy stance. He also stated that the election will not affect the Federal Reserve's recent policy decisions, and the president has no legal authority to dismiss him due to Trump's resignation.
It is reported that Trump's election has led traders to reduce their bets on the Federal Reserve cutting rates next year, with expectations of possibly pausing after 1-2 cuts in the first half of 2025.