Fed Officials Divided on Job Market vs Inflation
Update: 2025-11-19
Description
Federal Reserve officials grappled with a divided economy during their October meeting, debating whether a slowing job market or persistent inflation posed the greater threat. While they approved a quarter percentage point cut to the overnight borrowing rate, the discussion was far from unanimous, revealing differing views within the committee. The likelihood of a December cut dropped significantly after Federal Reserve Chair Jerome Powells comments, now seen as less than a one in three chance. The debate centered on the restrictiveness of current economic policies, with some officials feeling that policy was still holding back growth, while others pointed to the economys resilience as a sign that policy wasnt overly restrictive. The committee also agreed to stop reducing their holdings of Treasury and mortgage-backed securities in December, ending the quantitative tightening process.
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