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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.
FED
Looking at the broader updated economic projections:
- No downgrade to 2024 real GDP growth, a surprise vs expectations of a downgrade.
- No upped 2024 unemployment rate (4.0%) despite hitting that figure already in Friday's jobs report. 2025 and 2026 were upped 0.1pp each without a downgrade in growth.
- Interestingly, the longer-run unemployment rate was raised 0.1pp in conjunction with those. That was increased in December by 0.1pp to 4.1% (the first rise in the brief history of the projections). It's now back to pre-pandemic, 2019 levels after sitting at 4.0% through most of 2021-23.
- Core and headline PCE for end-2024 were upped as expected 0.2pp each (2.8% core, 2.6% headline), with 2025 upped 0.1pp each. 2025's were upped 0.1pp each, with target still being reached by 2026.
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.
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