As Expected, the Federal Reserve Cuts the Fed Funds Rate

On September 18, 2019, the Federal Reserve Open Market Committee voted to cut the fed funds rate one quarter of a point to a range of 1.75-2.00%. The vote was 7-3, with one governor voting to cut by one-half of a point and others voting to keep rates unchanged.

In addition, the Fed released its ‘Economic Projections’ for the near future. The projections were in line with prior estimates with GDP growth targeted at 2.0% for 2020, and 1.9% for 2021. Core inflation is targeted at 1.9% in 2020 and 2.0% in 2021. Here is the link to the Federal Reserve press release: https://www.federalreserve.gov/newsevents/pressreleases/monetary20190918a.htm
The next scheduled meetings of the Open Market Committee are November 7-8, and December 18-19.