The economy is strong overall and has made significant progress toward our goals over the past two years. The labor market has cooled from its formerly overheated state and remains solid. We are committed to maintaining our economy’s strength by supporting maximum employment and returning inflation to our 2 percent goal. decided to take another step in reducing the degree of policy restraint by lowering our policy interest rate by a quarter percentage point. In the near term, the election will have no effects on our policy decisions.

Source: New York Times November 08, 2024 01:39 UTC