Fed lowers rates by 1/4 point

We think a base case of “no more cuts for now” seems very reasonable

Eric Compton 30 October, 2019 | 3:54PM
At the conclusion of its October meeting, the Federal Open Market Committee voted to decrease its target rate range to 1.5%-1.75%, a 25-basis-point reduction. For the fourth consecutive time under Chairman Jerome Powell's tenure, the vote was not unanimous, with Esther George and Eric Rosengren voting for no change to the benchmark rate. George and Rosengren have now dissented in three straight meetings, preferring to hold rates steady each time. St. Louis Fed President James Bullard, who dissented last time in favor of a 50-basis-point cut, voted for the single cut this time. As a reminder, there was no new projections or dot plot released for this meeting.

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Eric Compton

Eric Compton  Eric Compton is an equity analyst for Morningstar,