Federal Reserve Officials Unanimous In Decision To Cut Interest Rates

The Federal Reserve building is seen in Washington, DC

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.

Fed Governor Bowman dissented from the majority decision for a smaller cut in September.

Fed cut rates by 0.25%, unanimous decision except for one official.

First dissent in over two years.

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.