Free Trial

MNI Fed Review - May 2024: High (But Not Higher) For Longer

FED
Our review of the May 2024 FOMC meeting has been published and emailed to subscribers- PDF here.
  • The May FOMC outcome leaned dovish, with markets relieved by three aspects in particular: the maintenance of the Committee’s bias toward the next move being a rate cut; Chair Powell describing a rate hike as “unlikely”; and a more aggressive reduction to balance sheet runoff than had been expected.
  • While the FOMC’s confidence in the progress of disinflation has faltered following recent CPI/PCE data disappointments, they continue to see policy as being restrictive and in a “good place”.
  • Though the bar to cuts has been set a little higher, the bar to hikes appears to remain about as high as ever.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.