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Fed Officials: Inflation Still High, Interest Rates Cut

1/5/2025

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Summary

Story summary

Fed officials Mary Daly and Adriana Kugler confirmed inflation is still above the 2% target, indicating ongoing efforts.
They highlighted the importance of balancing inflation control with maintaining a stable labor market, noting a low unemployment rate of 4.2% in November.
The Fed has reduced interest rates by one percentage point, adopting a cautious strategy ahead.
November's inflation rate was 2.4%, a decrease from a peak of 7% in mid-2022.

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Story summary

Fed officials Mary Daly and Adriana Kugler confirmed inflation is still above the 2% target, indicating ongoing efforts.
They highlighted the importance of balancing inflation control with maintaining a stable labor market, noting a low unemployment rate of 4.2% in November.
The Fed has reduced interest rates by one percentage point, adopting a cautious strategy ahead.
November's inflation rate was 2.4%, a decrease from a peak of 7% in mid-2022.