Federal Reserve officials were split on their half-point rate cut.Stock futures slipped Thursday as investors await the latest CPI data, out at 830 a.m. ET. Futures tied to thefell roughly 0.2%. each. Economists polled by Dow Jones anticipate the consumer price index for September to show a 0.1% increase on a monthly basis and a 2.3% jump over the prior 12 months. That result will inform the Federal Reserve's next policy steps when the central bank meets in November.
Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics annual meeting in Nashville, Tennessee, US, on Monday, Sept. 30, 2024.The decision to cut by a half percentage point came down to balancing confidence on inflation with worries over the labor market, but multiple officials favored a smaller move.
A car is seen parked as it rains heavily in Fort Myers, Florida, on October 9, 2024 as Hurricane Milton approaches.as a Category 3 storm late Wednesday. The storm's maximum sustained winds have since dissipated to Category 1 territory but officials continue to warn the system is "extremely dangerous.", millions of Floridians were advised to evacuate, with President Joe Biden calling it "a matter of life and death.
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