FOMC Meeting Summary 9/19/2024:
1. Slowing Economy: Inflation continues to decline and is close to the 2% target, the Fed is optimistic that the economy is on track.
2. Unemployment Rate: Up slightly to 4.3%, but the labor market remains stable.
3. Interest Rate Forecast: Interest rates are expected to fall to 4.4% by the end of 2024 and 3.4% in 2025, with the recent 0.5% cut.
4. Interest Rate Cuts: Most Fed members agree on multiple interest rate cuts this year.
5. Flexible Policy: The Fed will adjust quickly if needed but will not return to ultra-low interest rates of 0%.
6. Labor Market: The Fed is confident in the health of the labor market and reasonable wage growth.
7. No political implications: The Fed's decisions are not influenced by political factors, regardless of the upcoming election.
8. Key message: The Fed will continue to control inflation and adjust interest rates to stable levels systematically.
