ICYMI, the news from Powell on Monday was pushing back against super-sized rate cuts:
Forexlive Americas FX news wrap 30 Sep:Fed Powell indicates there should be 2 cuts in 2024
Skimming through the piece on Powell’s speech from the Wall Street Journal’s Nick Timiraos, often called ‘Nickileaks’ due to his conveying of messages from the Fed when needed:
“this is not a committee that feels like it’s in a hurry to cut rates quickly,” he addedTo lean against expectations that officials might continue making large cuts, Powell cited economic projections they released two weeks ago that showed most officials pencilled in the equivalent of two more quarter-point cuts this year.
Fed dates ahead are November 6 – 7 and December 17 – 18.
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I posted yesterday on the 50 vs. 25 debate, looks like Bowman will have the last laugh.
This article was written by Eamonn Sheridan at www.forexlive.com.
