1/23/2024 0 Comments Federal reserve next meeting![]() That would mean at least one more rate hike after a May rate hike. However, seven out of the 18 FOMC participants forecasted that there would be at least 50 bps of additional rate hikes this year. In the March SEP dot plot, ten out of the 18 FOMC participants forecasted that a 25-bp May rate hike would likely be the last rate hike for the year. In the February 1st FOMC Statement, the anticipation description read as follows, “The Committee anticipates that ongoing increases in the target range will be appropriate.” In the March 22nd FOMC Statement, the description changed to the following: “The Committee anticipates that some additional policy firming may be appropriate.” That would move the target federal funds rate (TFFR) to 5.00%-5.25%, a level that’s close to the peak of the 2004-2006 rate hiking cycle (5.25%).Īnother change in the FOMC statement in describing the Fed’s anticipation of rate increases or policy firming would suggest higher odds that the Fed is preparing to pause. Odds are high that there will be another 25-bp rate hike. There will be no update to the Fed’s Summary of Economic Projections (SEP). At 2:30pm, Fed Chair Powell’s post-meeting press conference will take place. The two-day meeting is scheduled to start on Tuesday, May 2nd with the statement released at 2:00pm EDT on Wednesday, May 3rd. With the next Fed meeting just a week away, it’s time for another Fed summary with a preview of what to expect.
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