US Fed FOMC Meeting Live Updates: Federal Reserve Chair Jerome Powell cautioned investors not to expect another interest rate cut in December, saying it is “not a foregone conclusion”, adding that the members of the Committee have strong and differing opinions on how to proceed next month.
Why the uncertainty?
Due to the ongoing shutdown of the US federal government, some key economic data has not been collected. As a result, the Federal Reserve is relying on private sources to understand the state of the economy. Powell hinted that the uncertainty and lack of complete data could affect the decision in December.
His remarks came after the Federal Open Market Committee voted 10-2 to cut the target range for the federal funds rate by a quarter percentage point, bringing it down to 3.75%-4%. This marked the second consecutive rate cut. However, for the first time in six years, there were disagreements in both directions as one official pushed for a bigger cut, while another wanted to leave rates unchanged.
‘Not a foregone conclusion,’ says Powell
Powell used his opening statement at the post-meeting press conference to stress that another rate cut in December is not certain. “A further reduction in the policy rate at the December meeting is not a foregone conclusion — far from it,” Powell said. Later, while answering questions from reporters, he added that there was “a growing chorus now of feeling like maybe we this is where we should at least wait a cycle” before making another move.
Fed announces 25bps interest rate cut to a range of 3.75%-4.00%
The Federal Reserve announced a 25bps interest rate cut to a range of 3.75%–4.00% following its two-day policy meeting on Wednesday, 29 October 2025. The US central bank also indicated that it will focus on the balance of risks in the economy, alongside the evolving outlook and incoming data, to guide future decisions on the key interest rates. The rate cut comes amid elevated consumer inflation, with the CPI rising to 3% for the 12 months ending September 2025, up from 2.9% in August.
Experts had anticipated the Fed would implement another 25-basis-point cut to support US economic growth, despite “somewhat elevated” inflation and ongoing weakness in the labour market. “In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 per cent,” said the US Fed’s FOMC in its official statement.
In its previous September 2025 policy, the Fed also cut rates by 25 bps to 4.00%–4.25% and signalled a data-dependent approach for further easing. Investors, economists, and global markets are closely tracking Fed Chair Jerome Powell’s policy statement and press conference for cues on inflation, growth, and the future path of US monetary policy.
US Fed FOMC Meeting Live Updates: Check Live Coverage on US Fed Rate Cut, Interest Rate Cut Decision Today
US Fed FOMC Meeting Live Updates: Will RBI follow the Fed’s lead after rate cut?
Vishal Goenka, Co-Founder of IndiaBonds.com, said the US Federal Reserve’s 25-basis-point rate cut was expected, but future cuts are uncertain, especially with limited economic data available because of the US government shutdown.
He added that this move gives the Reserve Bank of India (RBI) more room to lower its repo rate in the upcoming December meeting. The RBI’s last policy move was a “dovish pause,” which helped calm long-term government bond yields. Goenka noted that for earlier rate cuts to fully benefit the banking sector, India needs a flatter and lower yield curve. With the Fed cutting rates, he expects the RBI to follow suit, making long-term government bonds more attractive.
US Fed FOMC Meeting Live Updates: ‘Clear green lighting for RBI to cut repo rate in its next meeting’
Deepak Agrawal, CIO-DEBT and Head of Products at Kotak Mutual Fund, said the US Federal Reserve reduced its key interest rate by 25 basis points to 3.75–4.00% in a 10–2 vote. One member wanted a bigger cut of 50 basis points, while another preferred keeping rates unchanged. The Fed noted that job growth is slowing and unemployment has slightly increased, even though the economy continues to grow at a moderate pace and inflation remains somewhat high.
He added that the Fed will stop reducing its balance sheet from December 1 to focus on supporting the labour market while keeping an eye on inflation. The move matched market expectations, and since there was no surprise in the forward outlook, the 10-year US Treasury yield rose to around 4.05%.
Agrawal said Governor Miran’s call for a larger rate cut and the early end to balance sheet reduction are good signs for bonds in the short term. However, since Indian bond yields did not fall in line with US yields, he does not expect a lasting impact on the Indian bond market.
US Fed FOMC Meeting Live Updates: Indian markets set to open higher on Fed rate cut
India’s stock markets are expected to open higher on Thursday, boosted by the U.S. Federal Reserve’s interest rate cut and growing optimism about a possible trade deal between the United States and China ahead of the meeting between Presidents Donald Trump and Xi Jinping. As of 7:10 a.m. IST, Gift Nifty futures were trading at 26,155 points, suggesting that the Nifty 50 index will start above Wednesday’s close of 26,053.9. On Wednesday, both major Indian market benchmarks gained around 0.5% each, ending less than 1% below their record highs reached in September 2024.
US Fed FOMC Meeting Live Updates: Fed officials split again as shutdown disrupts key economic data
Wednesday’s vote was the third straight Federal Open Market Committee (FOMC) meeting where some officials disagreed with the majority decision — the first time such a streak has happened since 2019. This division comes at a difficult moment, as the U.S. government shutdown that began in early October has made it hard to access official economic data. With federal reports unavailable, economists and policymakers have been turning to private and state-level sources to understand what’s happening in the job market.
US Fed FOMC Meeting Live Updates: Gold prices edged higher on Thursday
Gold prices rose slightly on Thursday as the US dollar weakened a bit and investors reacted to the Federal Reserve’s widely expected quarter-point rate cut, which boosted demand for the metal.
As of 0050 GMT, spot gold was up 0.4% at $3,942.97 per ounce. However, U.S. gold futures for December delivery dropped 1.1% to $3,955 per ounce.
US Fed FOMC Meeting Live Updates: Fed rates unlikely to slow AI infrastructure spending
Federal Reserve’s interest rate policy is unlikely to impact the tech sector’s spending on artificial intelligence infrastructure, Chair Jerome Powell said.
“I don’t think that the spending that happens to build data centers all over the country is especially interest sensitive,” Powell said. “It’s based on longer run assessments that this is an area where there’s going to be a lot of investment and that’s going to drive higher productivity.”
“I don’t know how those investments will work out, but I don’t think that they’re particularly interest sensitive compared to some of the other sectors,” he said.
US Fed FOMC Meeting Live Updates: Inflation looks manageable without tariffs, says Powell
“Inflation, away from tariffs, is actually not so far from our 2% goal,” he said at the post-meeting news conference.
Powell said the central bank estimates tariffs make up about five-tenths or six-tenths of the core personal consumption expenditures (PCE) price index, the Fed’s main inflation gauge. That means, excluding tariffs, core PCE might be in the 2.3% to 2.4% range, he said.
“The thing about tariff inflation, the base case is it will come and it probably will increase further but … it will be a one-time increase,” Powell said.
US Fed FOMC Meeting Live Updates: Experts on rate cut
“The decision to lower interest rates by 25bps in October was never in doubt, but the unexpected hawkish dissent from a regional Fed president highlights that future moves are becoming more contentious,” said Michael Pearce, deputy chief U.S. economist at Oxford Economics to CNBC.
US Fed FOMC Meeting Live Updates: Powell says uncertainty from shutdown could influence December decision
Powell said it is difficult to determine how any lack of government data because of the government shutdown would affect the December rate decision.
“It’s really hard to say. December’s… meeting is six weeks away. We just don’t know what we’re going to get,” Powell said.
“If there is a very high level of uncertainty, then, you know, that could be an argument in favor of caution about moving, but we’ll have to see how it unfolds.”
US Fed FOMC Meeting Live Updates: Powell attributes rising inflation to tariffs
Powell said that the recent increase in CPI inflation is linked to tariffs imposed by President Donald Trump.
“You’ve seen goods prices increasing, and that’s really due to tariffs, and that’s due that’s compared to a longer run trend of very, very mild deflation in goods. So that’s moving inflation up…” said Jerome Powell in his media address.
September 2025 CPI data showed that consumer inflation rose to 3%, up from 2.9% in August 2025.
US Fed FOMC Meeting Live Updates: Powell says December rate cut is not certain
In the press conference, Powell stated that the market’s expectation of a rate cut in December 2025 is not guaranteed, noting that the reality is “far from it.”
“A further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it,” said Jerome Powell on Wednesday.
Chairman Powell also added that the FOMC members hold “strongly different” views and have not yet decided on a December rate cut.
“Strong views across the committee, there were strongly different views today. And the takeaway from that is that we haven’t made a decision about December, and we’re going to be looking at the data that we have and how that affects the outlook and the balance of risks,” said Powell in his address.
US Fed FOMC Meeting Live Updates: Employment and inflation outlook largely unchanged since September, says Powell
US Federal Reserve Chairman Jerome Powell stated that the outlook for employment and inflation has remained largely unchanged since the Fed’s September 2025 meeting.
“Although some important federal government data have been delayed due to the shutdown, the public and private sector data that have remained available suggest that the outlook for employment and inflation has not changed much since our meeting in September,” said Jerome Powell, starting his press address on Wednesday.
US Fed FOMC Meeting Live Updates: Powell claims rising goods inflation as CPI reaches 3%
US Federal Reserve Chairman Jerome Powell, speaking to the media, noted that inflation for goods in the US economy has increased as the central bank continues monitoring key economic indicators.
“Readings are higher than earlier in the year, as inflation for goods has picked up,” said Chair Powell in his media address. October 2025 consumer inflation data showed that the CPI rose to 3% for the 12 months ending September 2025, up from 2.9% in August.
US Fed FOMC Meeting Live Updates: Countdown for Powell’s commentary
All eyes are now on US Federal Reserve Chairman Jerome Powell for his comments on the FOMC’s October 29, 2025, decision to cut benchmark interest rates by 25bps
US Federal Reserve’s FOMC reported that job growth in 2025 has slowed, while the unemployment rate has risen slightly but stayed low through August.
The Fed also maintained its view on inflation, noting that consumer prices have increased and remain at a “somewhat elevated” level.
“Job gains have slowed this year, and the unemployment rate has edged up but remained low through August; more recent indicators are consistent with these developments. Inflation has moved up since earlier in the year and remains somewhat elevated,” said the US Fed in its announcement on Wednesday.
US Fed FOMC Meeting Live Updates: Fed ends three-year balance sheet reduction
Policymakers announced the conclusion of a three-year effort to shrink the Fed’s massive portfolio by December 1.
The central bank’s balance sheet, which peaked at roughly $9 trillion in mid-2022, has now been reduced to about $6.6 trillion. This careful unwinding was aimed at reversing the stimulus measures deployed during the Great Recession and the COVID-19 pandemic.
While largely operating in the background, the balance sheet complements the Fed’s key interest rate in guiding the broader economy. Officials now believe the portfolio has returned to a more normalised level.
Fed Governor Stephen Miran, a second-term Trump appointee who joined the board last month, voted in favour of a half-point rate cut, his second consecutive dissent.
US Fed FOMC Meeting Live Updates: Fed lowers interest rates for the second time this year
Fed Reserve on Wednesday reduced interest rates for the second time this year. Officials approved another quarter-point cut, bringing the benchmark lending rate down to a range of 3.75% to 4%, which is the lowest level in three years.
US Fed FOMC Meeting Live Updates: Warren warns shutdown data gap hampers Fed’s rate decisions
Democratic Sen. Elizabeth Warren has expressed concern that the ongoing government shutdown, which has halted the production of key economic data, is making it more difficult for the Federal Reserve to determine the appropriate course for interest rates.
“I think that it is right for the Fed to cut rates, but getting that done accurately, knowing how much they should cut, depends on data,” Warren told reporters on Wednesday, ahead of the Fed’s decision. “The whole point of an independent Fed is that they look through the numbers, you know, they’re boring nerds, and then they make their best decision for the economy.”
US Fed FOMC Meeting Live Updates: What to expect today?
The Fed is widely expected to deliver a 25-basis-points interest rate cut at its meeting, but focus will remain on Chair Jerome Powell’s commentary, which could set the tone for global markets this week.
US Fed FOMC Meeting Live Updates: Where to watch Powell’s speech?
Jerome Powell’s press conference will be live-streamed on the US Federal Reserve’s official website at https://www.federalreserve.gov/.
In addition to the website, viewers can watch Powell’s speech on the Federal Reserve’s official YouTube channel at https://www.youtube.com/federalreserve.
US Fed FOMC Meeting Live Updates: Gold prices climb ahead of Fed announcement
Gold prices climbed nearly 2% on Wednesday, bouncing back from a three-week low in the previous session as traders closed short positions ahead of the US Federal Reserve’s key interest rate decision later in the day.
As of 9:45 a.m. ET, spot gold rose 1.4% to $4,007.47 per ounce, recovering after touching its lowest level since October 6 on Tuesday.
US Fed FOMC Meeting Live Updates: Dow tops 48,000 for first time ever as markets rally ahead of Fed decision
Dow Jones Industrial Average climbed as much as 334 points, or 0.7%, on Wednesday morning, briefly surpassing the 48,000 mark for the first time in history ahead of the Federal Reserve’s policy announcement. The S&P 500 and the tech-heavy Nasdaq Composite also reached new intraday record highs.
US Fed FOMC Meeting Live Updates: Markets bet on December rate cut
According to the CME FedWatch Tool, financial markets are heavily pricing in a December rate cut. However, “delayed data due to the government shutdown… should also limit Powell’s willingness to commit to a specific policy path beyond October,” said David Seif, chief economist for developed markets at Nomura.
US Fed FOMC Meeting Live Updates: Fed poised for two more rate cuts
Most major brokerages expect the Federal Reserve to implement 25-basis-point interest rate cuts at each of its remaining two policy meetings this year, after the anticipated quarter-point reduction in September. BofA Global Research stands apart as the only major firm projecting just one cut for the year.
US Fed FOMC Meeting Live Updates: US yields marginally higher
US Treasury yields were largely steady to slightly higher on Wednesday, as investors remained cautious ahead of the Federal Reserve’s policy decision, seeking more clarity on the central bank’s path for interest rate cuts through the remainder of this year and into 2026. The Fed is widely expected to lower its benchmark interest rate by 25 basis points at the conclusion of its two-day meeting later on Wednesday.
US Fed FOMC Meeting Live Updates: Trump slams Powell again
In the hours leading to the Fed announcement, Trump criticised the Federal Reserve again, targeting Powell for what he views as delays in lowering interest rates. Speaking at the APEC CEO Summit in Gyeongju, South Korea, Trump referred to Powell as “Jerome ‘Too Late’ Powell.”
US Fed FOMC Meeting Live Updates: What happened in September Fed announcement?
Federal Reserve delivered its first interest rate cut since December 2024 in its September 2025 policy decision and the first since President Donald Trump returned to the White House earlier this year.
“The committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4-1/4 per cent. In considering additional adjustments to the target range for the federal funds rate, the committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” the Fed said in its announcement.
US Fed FOMC Meeting Live Updates: Possible reason for rate cut
One major factor motivating officials to consider rate cuts is growing concern about the labour market. Even without fresh data, there are clear indications that inflation is easing, while layoffs based on state-level jobless claims, which continue to be reported despite the federal shutdown, have not shown signs of accelerating.
US Fed FOMC Meeting Live Updates: When will the rates be announced ?
The Federal Reserve is scheduled to announce its benchmark policy decision at 2 p.m. ET in the United States. For those following the event from India, the announcement will be available on the Fed’s official website at 11:30 p.m. IST on Wednesday, October 29, 2025.