FOX Business host Larry Kudlow tells the Democracy 2024 panel the Federal Reserves missteps in the economy, especially for middle-income workers.
The Federal Reserve on Thursday is expected to announce its next policy move on interest rates in the wake of the election and after an influx of economic data.
Policymakers on the Federal Open Market Committee (FOMC) are expected to announce a 25 basis point cut, lowering the benchmark federal funds rate to a range of 4.5% to 4.75%, down from the prior range of 4.75% to 5%.
The expected cut follows a larger than usual cut of 50 basis points in September, which was the first rate cut in four years after inflation surged to a 40-year-high following pandemic-related supply chain disruptions and an influx of federal spending on relief measures and other initiatives.
Fed Chair Jerome Powell is scheduled to hold a press conference following the Fed's announcement where he will take questions on the central bank's plans for rate cuts or pauses at meetings to come.
FED'S FAVORED INFLATION GAUGE SHOWED PRICE GROWTH CONTINUED TO SLOW IN SEPTEMBER
Federal Reserve Chair Jerome Powell and the FOMC are expected to announce a 25 basis point cut to interest rates on Thursday. (Seth Herald/Bloomberg via Getty Images / Getty Images)
The Fed's policy meeting comes as inflation has continued to show signs of cooling, though prices remain stubbornly high. It also comes after a weaker than expected jobs report raised concerns about the health of the labor market.
Last week, the Commerce Department released data showing that the Fed's favored inflation gauge – the personal consumption expenditures (PCE) index – was up 2.1% from a year ago in September. That was down slightly from 2.3% in August
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