The Fed's new policy statement described inflation as remaining 'elevated,' and updated quarterly economic projections showed the personal consumption...
-The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank's 2% inflation target.
“The other thing of note is although they had said they would have an in-depth discussion of the balance sheet taper, and I assume they did have that discussion, they didn't change anything there. So that's an interesting data point. If they felt like they wanted to tighten a little bit or change the pace of runoff, they could have done that, and they chose to leave the balance sheet taper alone.“It probably pushes out maybe one or two meetings.
"If Chairman Powell answers questions in line with statement, markets should absorb today's policy statement as a definitive catalyst for markets."FOMC decision very much in line with expectations as the Committee stand pat on policy, and deliver a 'copy and paste' of the January statement, with the 2024 median dot also remaining unchanged in pointing to 75 bp of rate cuts this year.
"Overall, the March FOMC changes little in terms of the bigger-picture policy outlook, with rate cuts and an end to QT still on the horizon, a backdrop that should remain supportive for risk over the medium-term."“While inflation continues to trend towards more normal levels, today’s decision from the Fed is to hold interest rates at their current levels and that any potential decreases will take place later in 2024. This means U.S.
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