Fed members at odds on December interest rate cut - UPI.com

Nov. 19 (UPI) -- Federal Reserve officials disagreed over whether the central bank should lower interest rates at its December meeting after approving back-to-back reductions, according to minutes from the October meeting.

Quarter-point changes from eacvh of the last two meetings have lowered them to a range of 3.7% to 4%. The last change was Dec. 18, 2024, in a range of 4.25% to 4.5%.

The next Federal Open Market Committee meeting is scheduled for Dec. 9 and 10 in Washington, D.C. The last meetings were Oct. 27-29 and Sept. 16-17.

There is about a 1 in 3 chance of a rate cut next month, according to the CME Group's FedWatch measure of futures pricing on Wednesday, CNBC reported. Odds for a January cut are around 66%.

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