News & Analysis

Dissecting the FOMC Statement

August 1, 2019

By Deepta Bolaky

Dissecting the FOMC Statement

The US Federal Reserve cut interest rates overnight by 25 basis points, taking the US Federal Funds rate to 2.25%. The rate cut was mostly seen as a hawkish one. In the press conference, Chair Powell said that the central bank’s rate cut was a “mid-cycle adjustment to policy” rather than “the beginning of a long series of rate cuts.” We have dissected the July FOMC statement in comparison with the June statement to highlight the changes for ease of reference.

Federal Open Market Committee statement

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