US Federal Reserve Chair Jerome Powell is likely to announce a rate cut today amid US government shutdown. The two-day Federal Open Market Committee (FOMC) meeting is underway on October 28-29, and the final decision of the Fed members will be announced by Powell on October 29 at 2 pm ET. followed by a press conference at 2.30 pm ET. The live streaming of the FOMC meeting can be watched on the YouTube channel of the US Fed.

In September, Powell announced the central bank’s first interest rate cut of 2025, indicating increasing concern about a significant slowdown in the labor market. He noted that in this less dynamic and somewhat softer labor market, the employment risks appear to have risen.

The US Fed is expected to continue with another rate cut of 25bps in today’s FOMC meeting to pu

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