Election Has No Effect on Fed Policy Now, But Possibly Later
Our Privacy Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "ACCEPT", you acknowledge our privacy policy and consent to the use of cookies. 
Our Privacy Policy has been updated! Detailed information on the use of cookies on this site is provided in our cookie policy and our privacy policy. 
TCB Tourch
Loading...
  •  
    • NORTH AMERICA
    • EUROPE
    • ASIA

  • 2

    Close
    • Insights
        • Insights
        • Explore by Center
          • Explore by Center

          • The CEO Center

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications
        • Explore by Content Type
          • Explore by Content Type

          • Reports

          • Upcoming Webcasts

          • On Demand Webcasts

          • Podcasts

          • Charts & Infographics

          • Explore All Research

          • Economic Indicators
        • Trending Topics
          • Trending Topics

          • Artificial Intelligence (AI) Hub

          • Climate Hub

          • Navigating Washington Hub

          • Geopolitics Hub

          • US Economic Forecast

          • Explore All Trending Topics

    • Events
        • Events
        • Upcoming Events
          • Upcoming Events

          • Climate Under Pressure: A Corporate Fishbowl on Risk, Resilience, and Finance

          • Executive Compensation & Talent 2026

          • The Annual Employee Health Care Conference – Chicago

          • People First: Elevating Talent for the Future

          • 2026 M&A Summit - San Francisco

          • Explore All Upcoming Events

        • Member-Exclusive Programs
          • Member-Exclusive Programs

          • Center Briefings

          • Expert Briefings

          • Experts Live

          • Roundtables

          • Working Groups

          • View All Member-Exclusive Programs

        • Explore More
          • Explore More

          • View All Upcoming Events, Programs, and Webcasts

          • TCB Speaker Bureau

          • Sponsor a Program

    • Data
        • Data

        • All Data

        • Data Central

        • Consumer Confidence Index®

        • TCB Benchmarking

        • Recession & Growth Trackers

        • Global Economic Outlook

        • Leading Economic Indicators

        • Help Wanted OnLine

        • Labor Markets

        • Measure of CEO Confidence

        • Global Gray Swans Tool

        • CMO+CCO Meter Dashboard

    • Centers
        • Centers
        • Our Centers
          • Our Centers

          • The CEO Center

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications
    • Councils
        • Councils
        • Find a Council
          • Find a Council

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications

          • Canada Councils

          • Explore All Councils

        • Council Membership
          • Council Membership

          • What is a Council?

          • Benefits of Council Membership

          • Apply to a Council

    • Membership
        • Membership
        • Types of Membership
          • Types of Membership

          • Membership at a Glance

          • Executive

          • C-Suite

          • Leadership Team

          • Council

          • Higher Education

          • Insights

        • Already a Member?
          • Already a Member?

          • Check if Your Organization is a Member

          • Sign In to myTCB®

          • Executive Communities

          • Member-Exclusive Programs

          • Refer a Leader - Earn a Reward

    • About Us
        • About Us
        • Who We Are
          • Who We Are

          • About Us

          • In the News

          • Press Releases

          • Our History

          • Support Our Work

          • Locations

          • The Conference Board of Canada

          • Contact Us

        • Our Community
          • Our Community

          • Our Leadership

          • Our Experts

          • TCB Speaker Bureau

          • Trustees

          • Voting Members

          • Global Counsellors

          • Careers

          • This Week @ TCB

          • Continuing Education Credits (CEUs)

    • Careers
    • This Week @ TCB
    • Sign In to myTCB®
      • NORTH AMERICA
      • EUROPE
      • ASIA
    • Insights
      • Insights
      • Explore by Center
        • Explore by Center

        • The CEO Center

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

      • Explore by Content Type
        • Explore by Content Type

        • Reports

        • Upcoming Webcasts

        • On Demand Webcasts

        • Podcasts

        • Charts & Infographics

        • Explore All Research

        • Economic Indicators
      • Trending Topics
        • Trending Topics

        • Artificial Intelligence (AI) Hub

        • Climate Hub

        • Navigating Washington Hub

        • Geopolitics Hub

        • US Economic Forecast

        • Explore All Trending Topics

    • Events
      • Events
      • Upcoming Events
        • Upcoming Events

        • Climate Under Pressure: A Corporate Fishbowl on Risk, Resilience, and Finance

        • Executive Compensation & Talent 2026

        • The Annual Employee Health Care Conference – Chicago

        • People First: Elevating Talent for the Future

        • 2026 M&A Summit - San Francisco

        • Explore All Upcoming Events

      • Member-Exclusive Programs
        • Member-Exclusive Programs

        • Center Briefings

        • Expert Briefings

        • Experts Live

        • Roundtables

        • Working Groups

        • View All Member-Exclusive Programs

      • Explore More
        • Explore More

        • View All Upcoming Events, Programs, and Webcasts

        • TCB Speaker Bureau

        • Sponsor a Program

    • Data
      • Data

      • All Data

      • Data Central

      • Consumer Confidence Index®

      • TCB Benchmarking

      • Recession & Growth Trackers

      • Global Economic Outlook

      • Leading Economic Indicators

      • Help Wanted OnLine

      • Labor Markets

      • Measure of CEO Confidence

      • Global Gray Swans Tool

      • CMO+CCO Meter Dashboard
    • Centers
      • Centers
      • Our Centers
        • Our Centers

        • The CEO Center

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

    • Councils
      • Councils
      • Find a Council
        • Find a Council

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

        • Canada Councils

        • Explore All Councils

      • Council Membership
        • Council Membership

        • Benefits of Council Membership

        • Apply to a Council

        • Our Program Directors

        • Refer a Leader - Earn a Reward

    • Membership
      • Membership
      • Types of Membership
        • Types of Membership

        • Membership at a Glance

        • Executive

        • C-Suite

        • Leadership Team

        • Council

        • Higher Education

        • Insights

      • Already a Member?
        • Already a Member?

        • Check if Your Organization is a Member

        • Sign In to myTCB®

        • Executive Communities

        • Member-Exclusive Programs

        • Refer a Leader - Earn a Reward

    • About Us
      • About Us
      • Who We Are
        • Who We Are

        • About Us

        • In the News

        • Press Releases

        • This Week @ TCB

        • Our History

        • Support Our Work

        • Locations

        • The Conference Board of Canada

        • Contact Us

      • Our Community
        • Our Community

        • Our Leadership

        • Our Experts

        • TCB Speaker Bureau

        • Trustees

        • Voting Members

        • Global Counsellors

        • Careers

        • This Week @ TCB

        • Continuing Education Credits (CEUs)

    • Careers
    • Sign In to myTCB®
    • Download TCB Insights App
  • Insights
    Insights

    Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years.

    • Explore by Center
    • The CEO Center
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    • Explore by Content Type
    • Reports
    • Upcoming Webcasts
    • On Demand Webcasts
    • Podcasts
    • Charts & Infographics
    • Economic Indicators
    • Trending Topics
    • Artificial Intelligence (AI) Hub
    • Climate Hub
    • Navigating Washington Hub
    • Geopolitics Hub
    • US Economic Forecast
    • Explore All Trending Topics
  • Events
    Events

    Our in-person and virtual events offer unmatched opportunities for professional development, featuring top experts and practitioners.

    • Upcoming Events

      • Climate Under Pressure: A Corporate Fishbowl on Risk, Resilience, and Finance

      September 22, 2026

      Executive Compensation & Talent 2026

      September 24 - 25, 2026

      The Annual Employee Health Care Conference – Chicago

      September 24 - 25, 2026

      People First: Elevating Talent for the Future

      October 06 - 07, 2026

      2026 M&A Summit - San Francisco

      October 14, 2026

    • Member-Exclusive Programs
    • Center Briefings
    • Expert Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • View All Member-Exclusive Programs
    • Explore More
    • View All Upcoming Events, Programs, and Webcasts
    • TCB Speaker Bureau
    • Sponsor a Program
    • Explore by Type
    • Events
    • Webcasts
    • Podcasts
    • Member-Exclusive Programs
    • Center Briefings
    • Expert Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • View All Member-Exclusive Programs
  • Data
    Corporate Disclosure Data

    TCB Benchmarking

    Real-time data visualizations to benchmark your governance, compensation, environmental, human capital management (HCM) and social practices against US public companies.

    Economic Data

    All Data

    Data Central

    One-stop portal for the entire suite of indicators

    Consumer Confidence Index®

    Labor Markets

    Measure of CEO Confidence

    Global Gray Swans Tool

    Prepare for high-impact events

     

    Recession & Growth Trackers

    Current & future state of 16 economies

    Global Economic Outlook

    Growth outlooks for 77 economies

    Leading Economic Indicators

    State of the business cycle for 12 global economies across Asia and Europe

    Help Wanted OnLine

    Status of the US job market

    Other Featured Data

    CMO+CCO Meter Dashboard

  • Centers
    Centers

    Centers offer access to world-class experts, research, events, and senior executive communities.

    Our Centers
    • The CEO Center
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
  • Councils
    Councils

    Councils are invitation-only, peer-led communities of senior executives that come together to exchange knowledge, accelerate career development, and advance their function.

    Find a Council
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    • Canada Councils
    • Explore All Councils
    Council Membership
    • Benefits of Council Membership
    • Apply to a Council
    • Our Program Directors
    • Refer a Leader - Earn a Reward
  • Membership
    Membership

    Membership in The Conference Board arms top executives and their teams with an arsenal of knowledge, networks, and expertise that's unmatched in scope and depth.

    • Types of Membership
    • Membership at a Glance
    • Executive
    • C-Suite
    • Leadership Team
    • Council
    • Higher Education
    • Insights
    • Already a Member?
    • Check if Your Organization is a Member
    • Sign in to myTCB®
    • Executive Communities
    • Member-Exclusive Programs
    • Refer a Leader - Earn a Reward
  • About Us
    About Us

    The Conference Board is the global, nonprofit think tank and business membership organization that delivers Trusted Insights for What's Ahead®. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future.

    • Who We Are
    • About Us
    • In the News
    • Press Releases
    • Our History
    • Support Our Work
    • Locations
    • The Conference Board of Canada
    • Contact Us
    • Our Community
    • Our Leadership
    • Our Experts
    • TCB Speaker Bureau
    • Trustees
    • Voting Members
    • Careers
    • This Week @ TCB
    • Continuing Education Credits (CEUs)
Check if You're a Member
Create Account
Forgot Your Password?

Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's Ahead ® including webcasts, publications, data and analysis, plus discounts to conferences and events.

Navigating Washington: Insights for Business Hub

Election Has No Effect on Fed Policy Now, But Possibly Later

07 November 2024 / Brief

Download Brief
  • Email
  • Linkedin
  • Facebook
  • X
  • Copy Link

The Fed cut interest rates by 25bp and maintained the pace of balance sheet reduction (i.e., Quantitative Tightening) at the November 6-7 FOMC meeting. The federal funds target range was lowered by a quarter percentage point to 4.50-4.75 percent. Another 25bp cut in December is likely in our view, but the path for rates in 2025 and beyond is now less certain following the US elections.

The Fed cut interest rates by 25bp and maintained the pace of balance sheet reduction (i.e., Quantitative Tightening) at the November 6-7 FOMC meeting. The federal funds target range was lowered by a quarter percentage point to 4.50-4.75 percent. Another 25bp cut in December is likely in our view, but the path for rates in 2025 and beyond is now less certain following the US elections.

Trusted Insights for What’s Ahead®

  • As we expected, the Fed cut interest rates by 25bp in November, given what appears to be a sweet spot for the US economy.
  • Inflation is heading back to target, the labor market is “solid,” and real GDP growth has surprised to the upside in the Fed’s view.
  • The Fed Chair stated that US election results will have no impact on monetary policy in the near term, likely as the new administration will come into place in 2025.
  • The Chair also said that the Fed will not proactively alter the path of monetary policy to account for proposed changes in fiscal policies on the campaign trail.
  • Regarding the outlook for interest rates, the Fed Chair stated that the base case remain

Author

Dana M. Peterson

Dana M. Peterson

Chief Economist

Read BioDana M. Peterson

This publication is only available to Members. Please sign in to your myTCB® account to access it. To learn more about becoming a Member, click here. To check if your company is a Member, click here.

Sign In

Forgot your password

Create An Account

 

Keep my computer signed in

Forgot your password

Create An Account

myTCB® Members get exclusive access to webcasts, publications, data and analysis, plus discounts to events.

Great News!

You already have an account with The Conference Board.

Please try to login in with your email or click here if you have forgotten your password.

Create An Account



 

By Clicking 'Create Account', You Agree To Our Terms Of Use

Create Account

More From This Series

Brief

September Rate Hike: Not a One and Done

September 16, 2026

Brief

Sept FOMC Preview: More Inflation Coming; the Fed Rarely Stops After One Move

September 15, 2026

Brief

August CPI Suggest September Fed Hike

September 11, 2026

Brief

Modest July Inflation Is Necessary, but Not Sufficient for a Fed Hold

August 26, 2026

Brief

Distortions Overstate Weakness in July Retail Sales

August 14, 2026

Brief

July CPI Eases, But Energy Risks Linger

August 12, 2026

View Less View More

Charts

How the Debt Impacts Americans

Reducing the deficit leads to lower interest rates and lower costs.

LEARN MORE Yellow and white frame illustration

Charts

Free and Fair Elections Are Fundamental to Democracy and a Stable Economy

A secure, credible, and accessible electoral system fosters business confidence, enabling companies to trust governance and engage in shaping policy.

LEARN MORE Yellow and white frame illustration

Charts

$38 Trillion in Debt: A Bipartisan Fiscal Commission to Tackle the National Debt

As a visual explainer of CED's Solutions Brief, this infographic highlights key design elements for a bipartisan fiscal commission.

LEARN MORE Yellow and white frame illustration

Charts

250 Years Forward

As a visual explainer of our Solutions Brief, this infographic outlines The CEO Center's policy priorities for 2026.

LEARN MORE Yellow and white frame illustration

Charts

Leveraging Trusted Information to Combat Disinformation

The proliferation of easy-to-use generative AI requires that policymakers and business leaders each play an important role.

LEARN MORE Yellow and white frame illustration

Charts

Rebuilding Americans' Confidence In Elections Must Be A Top National Priority

A hyperpolarized environment, diminished trust in our nation’s leaders.

LEARN MORE Yellow and white frame illustration

Publications

Administration Proposes Expanded Tax-Exempt Rules for Private Schools

Administration Proposes Expanded Tax-Exempt Rules for Private Schools

September 10, 2026 | Newsletters & Alerts

Federal Budget Tracker

Federal Budget Tracker

September 03, 2026 | Additional Resources

US-Canada Trade War

US-Canada Trade War

September 02, 2026 | Backgrounder

Administration Proposes New Fees on H1-B Petitions

Administration Proposes New Fees on H1-B Petitions

August 27, 2026 | Newsletters & Alerts

New Food Safety Rules – and the Administration’s Regulatory Policy

New Food Safety Rules – and the Administration’s Regulatory Policy

August 25, 2026 | Backgrounder

Tariff Tracker

Tariff Tracker

August 25, 2026 | Additional Resources

View Less View More

On Demand Webcasts, Podcasts and Videos

Why Should Americans Care About the National Debt?

July 16, 2026

C-Suite Perspectives

Tariff Refunds: What Role Should Comms Leaders Play?

June 19, 2026

What Comms Leaders Need to Know about Tariff Refunds

June 15, 2026

USMCA 2.0—Trade Uncertainty in North America

June 10, 2026

C-Suite Perspectives

America at 250: How Can We Move Past Political Deadlock?

June 08, 2026

How Businesses Are Scaling AI & How Policy Can Help

May 21, 2026

View Less View More

Upcoming Events

Expert Briefing

Structural Changes and Federal Policy Effects on US Labor
Expert Briefing

Structural Changes and Federal Policy Effects on US Labor

Press Releases / In the News

PRESS RELEASE

CED Outlines 2026 Policy Priorities Ahead of Nation’s 250th Anniversary

January 20, 2026

IN THE NEWS

Denise Dahlhoff on How CEOs Are Talking About Tariffs—without Saying “Tarif…

May 21, 2025

IN THE NEWS

Erin McLaughlin on Tariff Policy

April 07, 2025

IN THE NEWS

Erin McLaughlin on Reshoring Factors

April 05, 2025

IN THE NEWS

Erin McLaughlin on US Reshoring

April 02, 2025

IN THE NEWS

Erin McLaughlin: How policy uncertainty may exacerbate infrastructure chall…

March 19, 2025

View Less View More
  • Tags
  • Economic Data & Analysis
  • Global Economic Outlook
  • Navigating Washington: Insights for Business Hub
  • Global Economy
EVENT PORTAL

Forgot Password | Resend account confirmation

Conference Board Sample Web Chat
chatbot-Icon
TCB Logo
chatbot-Icon
C-Suite Insights - Sign up to receive weekly C-Suite Insights newsletters, updates, surveys, and other relevant email communications. Unsubscribe any time
WHO WE ARE
  • About Us
  • Our History
  • Our Experts
  • Our Leadership
  • In the News
  • Press Releases
  • Locations
EXPLORE
  • Membership
  • Centers
  • Councils
  • Reports
  • Events
 
  • Webcasts
  • Podcasts
  • Data
  • Ask TCB
  • This Week @ TCB
CONTACT US
  • North America
    +1 212 759 0900
    customer.service@tcb.org
  • EMEA
    +32 2 675 5405
    brussels@tcb.org
  • Asia
    Hong Kong | +852 2804 1000
    Singapore | +65 8298 3403
    service.ap@tcb.org
CAREERS
  • See Open Positions
Terms Of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2026 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.
Terms of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2026 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all data from The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.

Thank you for signing up. You will now receive CEO Insights for What's Ahead every Wednesday morning. You can unsubscribe at any time or manage your preferences to receive more content from The Conference Board.

Important: Your Membership subscription payment is past due. We have not yet received your Membership payment. Please click the button below to pay your invoice.

Pay Invoice

Announcing The Conference Board AI Virtual Conference Series

Explore the Impact of AI on Your Business

Members receive complimentary registration - Learn more >>