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FOMC Review: Don't get used to 50s
The FOMC today cut rates by 50bps to a 4.75%-5.0% range. In the dot plot, members are almost evenly split between a further 25 or 50bps of cuts this year, probably an indication that many members came into the meeting not thinking about cutting rates 50bps today. Markets pricing in close to 50bps and the Fed not wanting to start the cutting cycle by disappointing probably moved the needle today. The chairman was very clear that 50bps was not the new normal in rate cut moves. Market rates initially fell on the 50bps decision, but moved higher during the press conference. The lower dot plot, implying 100bps of cuts in ... (full story)
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- Posted: Sep 19, 2024 2:21am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 5,170
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