- Policy meeting concludes at 2 pm with release of statement, projections
- Officials expected to cut benchmark rate a quarter of a percentage point
- Miran now in office; Cook remains as litigation continues
WASHINGTON, Sept 17 (Reuters) - The most politically charged U.S. Federal Reserve meeting in years wraps up on Wednesday with broad expectations for a quarter-percentage-point interest rate cut that may spark dissents from some policymakers who feel it is too small and too late and others who feel it is not warranted at all.
Just as critical as that decision will be an updated slate of projections showing where policymakers see the economy and monetary policy heading eight months into President Donald Trump’s extensive rewrite of U.S. economic policy and unrelenting pressure on the central bank to lower borrowing costs.
Because “percentages” (relative change) and “percentage points” (change in measured units) are different.
If you’re going from 4.50% to 4.25%, that’s a reduction of 0.25 percentage points (4.50 - 4.25), but also of about 5.6 percent (0.25 / 4.50).
Ok, that makes sense. I guess the issue stems from political voting where “theres a 1 point swing” means theres somehow a 2% gap because…idk. so when I hear that for a whole damn year every 2 years or something that stupid measuring metric is what stays in my head.
I hate people, people make shit stupidly complicated