Federal Reserve officials support moving “gradually” to lower interest rates on stronger than expected economic growth and fading concerns about the labour market’s health, according to a record of the central bank’s November meeting.
Minutes released on Tuesday suggest that the US policymakers no longer see an urgent need to rapidly reach a “neutral” level of interest rates that no longer hampers growth, a bumper half-point cut in September.
At the November meeting, the Federal Open Market Committee lowered rates by a quarter-point to a range of 4.5-4.75 per cent — the second cut in as many meetings.
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