(Bloomberg) -- Federal Reserve Chair Jerome Powell is unlikely to win another big interest-rate cut from his policy committee so long as the labor market...
-- Federal Reserve Chair Jerome Powell is unlikely to win another big interest-rate cut from his policy committee so long as the labor market holds up.From Cleveland to Chicago, NFL Teams Dream of Domed Stadiums
Nevertheless, minutes of the meeting showed there was a preference among some officials to cut rates at a more gradual pace, possibly because the economy remains remarkably resilient even in the face of what Fed officials call “restrictive” policy. The minutes said “a substantial majority” supported the 50-basis-point move. Tang called that a “rare term,” and added, “What they can’t say is almost all supported it.”
The Atlanta Fed’s GDP tracker now estimates the economy grew at an annualized rate of 3.2% in the third quarter. Some Fed officials are already noting that their preference is to move more slowly for now. Hurricane Milton nears landfall in Florida, battering coast with 120-mph winds and storm surges: Live updatesHurricane Milton, a Category 3 storm, is churning toward Florida’s west coast. The Tampa Bay area, home to more than 3.3 million people, is facing the possibility of widespread destruction after avoiding direct hits from major hurricanes for more than a century.
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