Summary
- The Federal Reserve emphasized its inflation target and announced a 0.25%p cut in the benchmark interest rate.
- U.S. economic activity and the labor market remain robust, but the uncertainty of the economic outlook was mentioned.
- This rate cut has adjusted the U.S. benchmark interest rate to 4.25%~4.50%.
The Federal Reserve (Fed) Federal Open Market Committee (FOMC) announced in a statement on the 18th (local time) that "inflation is close to the committee's target of 2%, but still somewhat high," and "recent indicators show that economic activity is expanding at a solid pace, and since the beginning of this year, the labor market has generally eased, and the unemployment rate has risen but remains low."
It continued, "The committee's goal is to achieve an inflation rate of 2% while maintaining maximum employment in the long term," and "we see the risks to achieving employment and inflation goals as relatively balanced."
Furthermore, it added, "The economic outlook is uncertain, and the committee is prepared for various risks."
Meanwhile, the Fed announced a 0.25%p cut in the benchmark interest rate today. This marks the third consecutive cut following the 0.5%p 'big cut' in September. As a result, the U.S. benchmark interest rate has fallen to 4.25%~4.50%.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
