ICYMI, the information from Powell on Monday was pushing again in opposition to super-sized fee cuts:
- Forexlive Americas FX information wrap 30 Sep:Fed Powell signifies there needs to be 2 cuts in 2024
Skimming via the piece on Powell’s speech from the Wall Road Journal’s Nick Timiraos, typically referred to as ‘Nickileaks’ as a consequence of his conveying of messages from the Fed when wanted:
- “this isn’t a committee that feels prefer it’s in a rush to chop charges rapidly,” he added
- To lean in opposition to expectations that officers may proceed making massive cuts, Powell cited financial projections they launched two weeks in the past that confirmed most officers pencilled within the equal of two extra quarter-point cuts this 12 months.
Fed dates forward are November 6 – 7 and December 17 – 18.
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I posted yesterday on the 50 vs. 25 debate, seems to be like Bowman may have the final snigger.
This text was written by Eamonn Sheridan at www.forexlive.com.