FOMC

The Fe cut by 25 bps to a corridor of 3.50% to 3.75% as expected,  and said it will begin treasury bill purchases on December 12th (ample reserves). There were two dissents (Schmid and Goolsbee) in favor of no rate cut. Trump’s temporary pick, Miran, dissented in favor of a -50 bps cut. Three dissents…