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Federal Reserve Schmid: Individuals prefer to avoid major interest rate cuts

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2024-10-21 21:28:30
Fed Schmid said interest rates are likely to be significantly higher than they were before the COVID-19 pandemic; called for a prudent, gradual and prudent rate-cutting strategy; individuals prefer to avoid sharp rate cuts; "reasonably believe" that inflation will fall to 2 percent; and see the labor market normalizing, not worsening.
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