Instant Reaction: Jay Powell on the Fed Decision

Instant Reaction: Jay Powell on the Fed Decision

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Treasuries extended losses after Federal Reserve Chair Jerome Powell said a December interest-rate cut was not set in stone, even after delivering a widely expected quarter-point reduction to prop up the labor market. The central bank reduced its benchmark lending rate to 3.75%-4% in its second straight cut — though two officials dissented.

“A further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it,” Powell said in the opening comments of his press conference. In their post-meeting statement, Fed policymakers on Wednesday repeated their assessment that “job gains have slowed” and said “risks to employment rose in recent months.”

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7am-8am ET: Furman, Greenspan & King

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Bloomberg Surveillance: Murphy on Politics

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Swagel: banks are in a much better position than pre-crisis

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29 Feb 201611min

Swagel: too soon to tell if bank regulation working

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29 Feb 201611min

Emos: markets unclear about fiscal direction

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