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Mon Pol Rules Look For 3.9% Effective Rate 4Q24


The Cleveland Fed has updated seven simple monetary policy rules based on three sets of economic forecasts. Full here.

  • The median result is for a Fed Funds effective rate averaging 3.9% in Q424.
  • The FOMC median dot in Dec had the target range at 4.5-4.75% for end-2024, whilst Fed Funds futures currently have an implied effective rate of 4.43% for end-2024.

Source: Cleveland Fed

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