Fed’s lack of progress
Market prices ultimately didn’t move too much after the Fed. NAB’s Ray Attrill says the forward guidance really hasn’t changed and the focus is on a restrictive rate, probably till December.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 2nd May 2024
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The Fed kept rates on hold for the sixth meeting in a row this morning, warning that there had ben a lack of further progress towards their 2% inflation target. NAB’s Ray Attrill says it didn’t really change market pricing for a cut, with the first fully priced move still looking like December. But there was a fair bit discussed during the press conference, from the terminal rate, the impact of the election and the possibility of a rate hike. Jerome Powell gave a cautious ‘no’ to the rate hike. Listen in for the latest from the Fed and the latest data, including JOLTS from last night and Australia’s trade data today.
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