The Federal Reserve is poised to lower its benchmark policy rate by a quarter-point next week, sticking to its course in the face of a distorted jobs report and uncertainty over economic policy beyond Tuesday’s US presidential election.
The Federal Open Market Committee will announce its next decision on interest rates two days after polls close, with the results potentially not yet known.
Officials are likely to press ahead with a quarter-point reduction, a resumption of a more traditional pace of easing after September’s larger than usual half-point cut. The move would lower the federal funds rate to a new target range of 4.5-4.75 per cent.
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