🇺🇸 Federal Statement Summary:
The Fed lowered the interest rate by 0.25% to a range of 3.50%–3.75%.
Inflation has risen slightly in recent times and remains above the desired level, while growth has become moderate and the labor market has begun to weaken with a slight increase in unemployment.
The Fed also indicated that it will continue to purchase short-term bonds as needed to maintain a level of 'sufficient reserves', which is considered a form of support and additional liquidity.
The committee was divided: one member preferred a larger cut, and two members preferred no cut.
Overall, the tone leans towards more easing if the economy needs it.
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