Two Fed Officials Express Concerns Over Inflation Amid Rate Cut Vote
AI Summary1 min read
TL;DR
Two Federal Reserve officials dissented on the interest rate cut, citing inflation concerns and a lack of recent data. They advocated for waiting or holding rates steady, while the Fed lowered rates and awaits more economic data.
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Federal Reserveinterest rate cutinflation concernseconomic datamonetary policy
Federal Reserve officials Austan Goolsbee and Jeffrey Schmid dissented against the interest rate cut, citing inflation concerns and the lack of recent data. Goolsbee said waiting for more data would have been prudent, while Schmid advocated for holding the policy rate steady. The Fed lowered the benchmark interest rate to the 3.50%-3.75% range, and officials await more inflation and job market data.
