U.S. Federal Reserve policymakers, moving toward their first interest rate reduc...
CHICAGO - U.S. Federal Reserve policymakers, moving toward their first interest rate reduction in a decade later this month, on Tuesday sketched out arguments for whether rates should be cut by a quarter or a half a percentage point.
“There is an argument that if I think it takes 50 basis points before the end of the year to get inflation up, then something right away would make that happen sooner,” Chicago Federal Reserve President Charles Evans told reporters at a CNBC economic forum. Evans last week said he felt a half a percentage reduction in the Fed’s target overnight interest rate was needed for the U.S. central bank to deliver on the 2 percent inflation target that it has missed since setting it in 2012.
The bond yield curve, when plotted as a graph, inverts from its typical arcing, upward slope when shorter-dated yields exceed those of longer-duration securities.
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