The US Federal Reserve, in its meeting that concluded moments ago today, Wednesday, October 29, decided to cut interest rates by 25 basis points to 4.00%, as expected. This is the second rate cut this year. All members voted in favor except Stephen Miran, who preferred a 50-basis-point reduction, while member Jeffrey voted against cutting rates.

The Fed’s interest rate report stated that available indicators suggest economic activity is expanding at a moderate pace, job growth has slowed, and the unemployment rate has gradually risen. The latest indicators are consistent with these developments, while inflation has risen since the beginning of the year and remains elevated.

The statement indicated that the committee aims to achieve maximum employment and inflation at 2%. Uncertainty regarding the economic outlook remains high, and the committee will continue to monitor and analyze incoming information on the economic outlook.

Markets are awaiting the press conference of Federal Reserve Chairman Jerome Powell, scheduled for less than half an hour, where he will answer journalists’ questions.