Fed cuts rates quarter point, with two dissents showing division #shorts #powell #fed #markets

A divided Fed cuts their benchmark lending rate by a quarter percentage point and says they are going to end QT December 1st. There are two descents as policy makers reset the target range to 3 and 3/4 and 4%. No surprise Steven Myron descents in favor of a 50 basis point cut as President Trump wants and Kansas City Fed President Jeffrey Schmidt desents on the other side in favor of no move. the Fed's administered rates for interest on reserves and the primary credit rate mechanically decreased by a quarter ...