The US central bank, the Federal Reserve (Fed), is convinced that inflation in the country is steadily decreasing, while the labor market is strong, which opens up for more gradual interest rate cuts. This is shown by the protocol now released from a heavy Fed meeting.
At the meeting of the Fed's monetary policy committee (FOMC) on November 6-7, a decision was made to lower the interest rate by 0.25 percentage points, to the interval 4.50-4.75 percent.
The members believe that inflation is sustainably on its way down towards the target of two percent, according to the text, reports CNBC.
The information in the protocol appears to be expected by the market. The three major indexes on the New York Stock Exchange showed very small movements when the document was released.
The next meeting of the FOMC is scheduled to take place on December 17-18.
