Fed cuts, revises dot plot, markets still want more
The Fed cut interest rates by 50bp and oved the dot plot lower. But do the markets still expect more. NAB’s Gavin Friend talks through the FOMC meeting ad looks ahead to the BoE later.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 19th September 2024
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Perhaps not surprisingly the Fed opted for the 50bp cut. Markets responded sharply, but then rowed back shortly afterwards as Jerome Powell tried to downplay the significance of the move at the press conference that followed, saying this wasn’t a new pace just a recalibration of policy. NAB’s Gavin Friend joins Phil to decipher the language, the revised forecasts and the market response. Next, it’s the BoE, unlikely to move, particularly after a slightly hotter than expected inflation print. Plus, Australian employment numbers and NZ GDP today.
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