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Fed Signals Three 2024 Rate Cuts As Pause Extended

FED
  • (MNI)- Federal Reserve officials held interest rates steady Wednesday at their highest level in 22 years while signaling they expect to cut them three times next year as inflation falls more than previously expected.
  • The Summary of Economic Projections showed policymakers penciling in a median 4.6% rate of interest for the end of 2024 -- down from 5.1% in the September projection -- and core PCE inflation ending next year at 2.4%, lower than the 2.6% September projection.
  • The Fed will take into account the lags and cumulative effects of policy in “determining the extent of any additional policy firming that may be appropriate,” the FOMC said in its last post-meeting statement of the year. The addition of the word “any” is a hint that policymakers largely believe they are done hiking rates.
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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