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Kaplan: Economic Conditions and the Key Structural Drivers Impacting the Economic Outlook
In the September Federal Open Market Committee (FOMC) meeting, the Federal Reserve cut the federal funds rate by 25 basis points to a range of 1.75 to 2 percent. I supported this rate cut as well as the previous rate cut in July. In addition, since mid-September, the New York Fed has announced a series of overnight and term repurchase agreement (repo) operations intended to provide additional liquidity to the overnight and term lending markets in order to maintain the federal funds rate within the target range. In the post-FOMC meeting press conference, Chairman Powell suggested that the Fed will consider additional ... (full story)