In the aftermath of Tuesday’s political fallout, the Federal Reserve’s meeting over the next two days to set monetary policy has been described as one of the most low-key in recent memory. But future meetings may not be so calm.

As expected, the Fed cut its interest rate by a quarter of a percentage point (25 basis points) yesterday. That was foreshadowed at the September meeting, when the Fed cut interest rates by 50 basis points, the first cut since it began raising rates two and a half years ago.

In his prepared remarks, Fed Chairman Jerome Powell stuck to his steady scenario, saying the Fed would try to adhere to its so-called dual mandate to bring about price stability, currently defined as a 2% inflation target. while ensuring maximum employment.

Painting a picture of a strong U.S. economy, with inflation falling, growth around 2.8 percent and a labor market that, while the “cooling” was still strong, Powell said the Fed would continue to try to reach so- the so-called “neutral”. rate, neither restrictive nor expansionist, “carefully” and “patiently”.

“Nothing in the economic data suggests that the committee needs to rush to get there,” he said. There was “strong economic growth” and “continued strength in the labor market”.

But Powell deliberately sidestepped a question about his image of a “robust” economy, which contrasts so sharply with the lived experience of millions of workers and their families facing a significant reduction in living standards reflected in the return against the Democrats.

Trump’s return and the impact of his proposed agenda of massive tax cuts, high tariffs and mass deportations of immigrants were addressed in the question-and-answer session of the press conference after the meeting.