The U.S. Federal Reserve officials were willing to cut the target range for the federal funds rate, according to the minutes of a Federal Open Market Committee (FOMC)'s September meeting, released on Wednesday.
According to the minutes, officials said labor market conditions had softened, noting the pace of employment increases had slowed.
In support of the Committee's goals and in light of the shift in the balance of risks, almost all members agreed to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4-1/4 percent.
Compared with the staff forecast prepared for the July meeting, the projection of real GDP growth was revised up somewhat, on balance, for this year through 2028, primarily reflecting stronger-than-expected data for both consumer spending and business investment as well as financial conditions that were projected to be a little more supportive of output growth, the minutes said.
Additionally, tariff increases were still expected to raise inflation this year and to provide some further upward pressure on inflation in 2026. Inflation was projected to decline in 2026, to reach the Fed's 2 percent target in 2027, and to remain there in 2028.
Fed officials show willingness to cut rate: minutes
Fed officials show willingness to cut rate: minutes
Fed officials show willingness to cut rate: minutes
The three astronauts of China's recently-returned Shenzhou-20 mission on Friday shared the experiences of their dramatic 204-day space mission, including detailing the emergency procedures which were implemented to bring them safely home after their return capsule was struck by space debris.
The trio -- Chen Dong, Chen Zhongrui, and Wang Jie -- met with the press in Beijing on Friday afternoon, marking their first public appearance since returning to Earth in November.
When detailing the emergency response mechanisms which were enacted prior to their scheduled return, the astronauts explained that upon discovering a triangular crack on the spacecraft's viewport window, they immediately took photos for documentation and transmitted them to the ground team, who swiftly activated an emergency plan to get the trio home safely.
Experienced mission commander Chen Dong explained how the crew had complete faith in their colleagues on the ground to find a solution to these unforeseen circumstances which led to their return being delayed.
"First, we must trust the ground team, who would anticipate everything and develop the safest return plan for us. Second, we must believe in ourselves; as well-trained astronauts, we have the ability to manage various unexpected failures. I believe that with the collaboration of astronauts and researchers on the ground, our space home will surely go farther, more steadily, and for a longer time," he said.
Following their extended stay in space as a result of the debris incident, the Shenzhou-20 crew spent a total 204 days in orbit, setting a new record for the longest duration by a single group of Chinese astronauts.
During their mission, they completed multiple payload operations, conducted extensive scientific experiments, and carried out four extravehicular activities.
"Our crew worked together with the ground team in unity and coordination, completing four extravehicular activities, several payload entry and exit tasks, and a large number of scientific experiments. It was a fulfilling yet challenging mission. The path to exploring the heavens is long and arduous, but I firmly believe that China's space missions will succeed," said Chen Zhongrui, a former air force pilot who was making his first spaceflight during the mission.
"From the ground to space, from learning to application, I have deeply felt the solid progress of Chinese space endeavors and the quiet dedication of countless personnel behind the scenes. In the future, I will accomplish each mission with full commitment, living up to the trust of the motherland and the people," said fellow astronaut Wang Jie, who was also making his debut spaceflight.
After returning to Earth on Nov 14, the trio successfully completed their isolation recovery and rehabilitation and will now resume normal training following health assessments.
The crew's return, originally scheduled for Nov 5, was postponed due to safety concerns, with the astronauts later using the return capsule belonging to their successor crew of the Shenzhou-21 mission to get back to Earth. China later launched the unmanned Shenzhou-22 spacecraft which will serve the future return of the crew now aboard the Tiangong Space Station.
Shenzhou-20 astronauts share experiences after safely returning from debris incident
