Both #Trump picks to replace #JeromePowell as #Fed chair Governors Christopher Waller & Stephen Miran, on leave from his job as an economic adviser at the White House, dissented in favor of a quarter-percentage-point rate cut.

The Fed's statement offered no hint about when another reduction in borrowing costs might come, noting that "the extent & timing of additional adjustments" to the policy rate would depend on incoming data & the economic outlook.

#US #FederalReserve #inflation #economy

Meanwhile, #inflation "remains somewhat elevated," the #CentralBank said, while the job market has "shown some signs of stabilization."

Though the #Fed noted that "job gains have remained low," it also removed language from its prior statement saying that downside risks to employment had risen - an indication policymakers as a group are becoming less worried about a rapid downturn in the labor market.

#US #FederalReserve #FOMC #JeromePowell #Trump #InterestRates #economy