The Federal Reserve cut interest rates by 25 basis points to 4.50%-4.75% due to inflation control and a cooling labor market. This smaller cut follows a 50-basis-point reduction in September. Fed Chair Jerome Powell noted that the labor market is less inflationary now. With Donald Trump’s election, the Fed foresees no immediate policy changes, but future Trump policies might slow further rate cuts. Markets expect two more 25-basis-point cuts by mid-2025, lowering rates to 3.75%-4%.
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