During the recent Federal Reserve meeting, officials unanimously decided to cut interest rates by a quarter point. This decision was in contrast to the previous meeting in September, where Fed Governor Michelle Bowman voted for a quarter-point cut while the other 11 officials opted for a half-point cut.
This marked the first instance in over two years where a Fed official dissented from the majority decision. Bowman later clarified her stance on the smaller cut in September, expressing concerns that a larger cut could potentially lead to increased demand and subsequently higher inflation.