[Fed Watch] Trump-appointed Myron voted for a 'big cut' in interest rates at the FOMC meeting

GDP growth rate upwardly revised to 2025 1.6%

PCE inflation kept at 3.0% for this year as previously forecast

The U.S. central bank (Fed) on the 17th (local time) held the September Federal Open Market Committee (FOMC) and decided to lower interest rates by 0.25% percentage points.

Also participating in the vote was Steven Myron, the new Fed board member appointed by President Trump who took office the day before (also serving as chair of the National Economic Advisory Council). He voted for a 0.50%P cut (a 'big cut').

The Fed lowered its year-end policy rate forecast from an annual 3.9% to an annual 3.6%. This suggests it could lower rates by another 0.50% percentage point between October and December. The Chicago Mercantile Exchange's interest rate futures trading prices reflect the highest probability (81.1%) that the policy rate after the December FOMC will be 3.5~3.75%.

Washington=Lee Sang-eun, correspondent