Just before Joe Biden leaves the White House and Donald Trump returns, two prominent Republican members of the Federal Reserve Board are weighing in on how fast interest rates should come down. The two — Michelle Bowman and Christopher Waller — say rates can come down in a measured way.

Key Takeaways The odds of the Federal Reserve cutting its benchmark interest rate this year fell after a jobs report Friday showed hiring in December blew past expectations.Strong job growth means less pressure on the Fed to cut interest rates to save the economy and prevent layoffs.

Before the strong December jobs report was released, the odds were already low for an interest rate cut in the next Federal Reserve decision on January 29.

Traders on Friday bet the Federal Reserve will wait until at least June to reduce its policy rate, and end its rate-cutting cycle there after government data showed employers added far more jobs than expected in December.

Friday’s unexpectedly big increase in December nonfarm payrolls was leading to a reduced market-based likelihood for any rate cut by the Federal Reserve until September, based on one method of calculating expectations — and one big bank sees the risks tilting toward a rate hike.

The odds of a rate cut from the Federal Reserve are getting slimmer by the day. Markets are pricing in a 95% chance that the Fed keeps borrowing costs unchanged at its Jan. 30 decision. That’s up from 94% yesterday,

A top policymaker at the US Federal Reserve says that he still supports reducing interest rates this year, despite elevated inflation and the prospect of widespread tariffs.

Two top Federal Reserve officials on Thursday questioned the need for many more interest rate cuts. Fed Governor Michelle Bowman and Kansas City Fed President Jeff Schmid both said the 100 basis points in rate cuts since September has brought the Fed’s benchmark rate down to “neutral,” where it neither dampens or boosts demand.

Soaring payroll growth and low unemployment in December are more than likely to keep the Federal Reserve from cutti

But minutes from their December meeting suggest that the decision was a close call — and that there is no guarantee policymakers will lower rates again anytime soon. The minutes of the central bank’s Dec.

Employers added 256,000 jobs in December, blowing past economists' expectations and signaling that the job market remains resilient in the face of still-high borrowing rates and stickier-than-expected inflation.