After weeks in which the Federal Reserve’s policymakers have seemed more divided over interest rate policy than they’ve been in years, Friday brought the clearest hint yet that a rate cut is on the way 19 days from now.
Why it matters: New York Fed president John Williams’ words in a speech Friday only make sense if the central bank’s inner circle of leadership has decided that they think another interest rate cut is justified at the December 9-10 meeting, and are confident they’ll have the votes to make it happen.
