US Fed meet outcome today: When and where to watch in India? Check here
The Federal Reserve is confident that inflation is nearing its 2% target and may cut its benchmark rate by 25 bps. This will be the second rate cut by Fed this year following a 50 bps cut in September.
US Federal Reserve November Meet: The United States Federal Reserve (US Fed) chairman Jerome Powell is widely expected to announce a rate cut by a quarter of a percentage point as the two-day monetary policy meeting concludes on Thursday, November 7.
The Federal Open Market Committee or the FOMC at its last meeting in September had announced a rate cut by 50 basis points (bps) for the first time in four years. This time, analysts and investors are pencilling in a smaller rate cut of 25 bps.
Apart from the announcement of the rate decision, investors across the globe will be keenly eyeing Powell’s commentary on the economic outlook.
When & Where to Watch Fed Policy Decision?
The US Fed is slated to announce its decision at 2 pm EST on November 7 or 12.30 am IST on November 8.
The announcement will be followed by a press conference from Fed chair Jerome Powell at 2.30 pm EST (1 am IST).
You can watch the announcement live on the Fed's website or YouTube channel.
The next and the last Federal Reserve meeting for the calendar year 2024 is scheduled to take place on December 17-18.
Expectations From Fed Policy Outcome
As per a Reuters report, the Fed is widely expected to reduce its benchmark policy rate by 25 bps on Thursday to a range between 4.5% and 4.75%.
However, the outlook for further rate cuts gets murkier following the re-election of Donald Trump as the next President of the United States as some of the new policies by the Republican leader are expected to reverse or stall the slowdown in inflation.
Fed is now expected to wrap up its rate-cutting cycle by the middle of next year, leaving the policy rate in the range of 3.75% to 4%, which is significantly above the roughly 2.9% level Fed officials projected as of September, suggested a Reuters report.
What Happened at September Fed meeting?
During its September meeting, US Federal Reserve officials cut rates by 50 bps for the first time since the pandemic. Further, the Fed officials indicated that they expect the interest rate to decrease by another 50 basis points by the end of this year, followed by a full 1% reduction in 2025, and a final 0.5% cut in 2026, bringing the rate to a range of 2.75% to 3.00%.
Also Read | How US Fed rate cuts affect Indian stock market
In its policy statement, the Fed said its policymakers are increasingly confident that inflation is moving steadily toward the 2% target. They also noted that the risks to meeting their employment and inflation goals are now more balanced.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Catch all the Business News , Economy news , Breaking News Events andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates.
Business NewsEconomyUS Fed meet outcome today: When and where to watch in India? Check here
First Published:8 Nov 2024, 06:34 AM IST
- Top Gainers
- Top Losers
- 52 Week High