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2025-10-30 02:11:38
Nick Timiraos, the "New Fed Watcher": The Federal Open Market Committee (FOMC) October decision: The Fed cut interest rates by 25 basis points (bps) as expected. There were two dissenting votes: Schmid advocated keeping rates unchanged, while Milan wanted a 50 basis point cut. The Fed will end quantitative tightening on December 1st. Afterwards, proceeds from the redemption of mortgage-backed securities will be reinvested in short-term Treasury securities. Although the statement changed the wording from "recent data" to "available data," the overall description of the economic outlook was largely "mark-to-market," meaning it was updated based on current conditions and did not represent a fundamental change.
