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Powell: Another cut in December is far from assured
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Oct 29, 2025 2:03pm
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Fed's Powell: Tension between two goals, and strong views across committee. *POWELL: FED HAS NOT MADE A DECISION ABOUT DECEMBER MEETING FEDS POWELL: TODAYS RATE CUT WAS A RISK-MANAGEMENT MOVE; DECISIONS GOING FORWARD WILL BE A DIFFERENT MATTER Fed's Powell: We can't address both employment, inflation risks with our one tool. FEDS POWELL: NOTES TIGHTENING IN MONEY MARKETS OVER THE PAST THREE WEEKS; ASSESSES RESERVES AS ONLY SLIGHTLY ABOVE AMPLE AND SEES LITTLE BENEFIT IN FURTHER BALANCE SHEET REDUCTION
POWELL: WE'VE MOVED 150 BASIS POINTS, NOW IN RANGE WHERE MANY ESTIMATES OF NEUTRAL RATE LIVE POWELL: SOME PEOPLE ON COMMITTEE FEEL IT'S TIME TO TAKE A STEP BACK FEDS POWELL: SOME MEMBERS OF THE COMMITTEE BELIEVE ITS TIME TO TAKE A STEP BACK; NOTES LABOR MARKET IS A MORE RELIABLE INDICATOR THAN SPENDING, WHICH IS CURRENTLY SHOWING A MORE DOWNBEAT SIGNAL *POWELL: GROWING CHORUS FEELS LIKE MAYBE FED SHOULD WAIT A CYCLE FEDS POWELL: YOU SAW THAT SENTIMENT IN SEPTEMBER AND IN RECENT REMARKS, AND CAN EXPECT IT TO BE REFLECTED IN THE MINUTES FROM TODAYS MEETING