Fed cuts rates by another 25 basis points, but missing data clouds outlook
2025-10-29 18:34:06
The Federal Reserve announced another rate cut, continuing efforts to prevent a recent slowdown in hiring from turning into a more serious problem. The latest 25 basis point rate cut will take the Fed's base rate to a three-year low of 3.75-4 per cent, below the 5.4 per cent peak it held for most of last year. However, the "easy part" of reversing the aggressive rate-hiking cycle may be over. The tricky task is complicated by data disruptions caused by the government shutdown as officials debate the extent of further rate cuts ahead. William English, a former senior adviser to the Fed, said the lack of timely and comprehensive data meant "they haven't learned much since September, which puts them speculatively closer to where they were in September, but the uncertainty surrounding that position is wider."
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