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Chief Economist Eugenio J. Aleman discusses current economic conditions.
The central bank agreed to a 25 basis point increase in July after electing to not raise the federal funds rate in June.
Chief Economist Eugenio Alemán and Economist Giampiero Fuentes note that while it is taking longer to bring inflation down, the Fed will continue to conduct monetary policy to reach its target rate.
The decision ends a run of 10 consecutive adjustments by the central bank, dating back to March 2022.
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