Fed Expected to Cut Rates Further
The Federal Reserve is likely to deliver quarter-point interest rate cuts at each of its next three meetings, according to traders.
This expectation comes after a US government report showed that consumer inflation rose less than expected last month. The Consumer Price Index climbed 3% in the 12 months through September, which is a tick up from its 2.9% increase in August but below the 3.1% expected by economists polled by Reuters.
That may give even the central bank’s more hawkish policymakers comfort that continuing to ease borrowing costs to support the labour market won’t reignite inflation, analysts said.
- Consumer Price Index: 3% increase in the 12 months through September
- Expected increase: 3.1%
- Actual increase: less than expected
Author's summary: Fed to cut rates due to low inflation.
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