Analyst: Fed Beige Book Solidifies Rate Cut Expectation

BlockBeats News, October 16th, the Federal Reserve's Beige Book reinforced expectations of further interest rate cuts, leading to a drop in the US dollar. The report indicated that economic growth had slowed, the labor market remained weak, and input prices had risen. Evercore ISI analysts stated in a report that the signal regarding tariff pass-through was mixed, with some companies reporting no change in selling prices while others reported an increase in import costs. Overall, the Beige Book "reiterated an economic outlook that has changed little since the September Fed meeting." They suggested that this means the Fed may cut interest rates by 25 basis points later this month and could cut further in December. (FXStreet)