The Federal Open Market Committee’s March projections for rate cuts shows a median Federal funds rate of 4.6% in 2024.
for rate cuts, or the"dot plot," shows a median Federal funds rate of 4.6% in 2024. With the current fed funds rate in a range of 5.25% to 5.50%, the dot plot implies three cuts of 0.25 percentage point.
"The FOMC's SEP continues to show of rate cuts this year, even as the core-PCE estimate was increased by 0.2 pp to 2.6%. We'll argue this is the most relevant takeaway from the SEP because it suggests the upside seen in realized inflation early this year is being dismissed by monetary policymakers," said Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Today: The Fed, the whole Fed and nothing but the FedThe Greenback managed to maintain its multi-session constructive bias well and sound and propel the USD Index (DXY) back above 104.00, albeit ephemerally.
Read more »
NZD/USD extends downside to 0.6040 ahead of Fed policy, NZ Q4 GDPThe NZD/USD pair continues to face a sell-off and drops to 0.6040 in the late Asian session on Wednesday.
Read more »
Will Fed Minutes offer clues over 2024 rate-cut outlook?The Federal Reserve (Fed) will release the minutes of the January policy meeting on Wednesday.
Read more »
Poland's president calls on NATO allies to raise spending on defense to 3% of GDPPoland’s president is calling on other members of the NATO alliance to raise their spending on defense to 3% of their gross domestic product.
Read more »
Jack Teixeira will plead guilty in massive leak of documents on DiscordFederal prosecutors filed a notice with a federal judge in advance of a hearing next week.
Read more »
Australian GDP expands 0.2% QoQ in Q4 vs. 0.3% expectedAustralia’s Gross Domestic Product (GDP) grew 0.2% in the fourth quarter of 2023 compared with the 0.3% growth in Q3, the Australian Bureau of Statistics (ABS) showed on Wednesday.
Read more »