FOMC
Our baseline forecast of the dots sees most of the dots holding steady, with some dots taking cuts off for this year. . This leaves three cuts as our baseline median dot—but just barely.
With lots of new data around the corner, the Fed will want to keep its options open.
The Fed will hold, but will still probably not want to talk too much about 2024.
The Fed will leave its target range for the Federal Funds Rate at 5.25%-5.50%. The big news between the last meeting and this is the large raise in long yields, which has several committee members thinking that there will be less need to hike.
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