Fed interest rate decision:
Hold on, the dawn is just around the corner!!!
The Fed kept interest rates unchanged for the seventh time in a row, maintaining the current interest rate level unchanged.
Inflation expectation adjustment:
The Fed raised its inflation forecast for 2024 from 2.4% to 2.6%.
Rate cut expectations:
According to the median forecast, there will be only one rate cut in 2024. A 100 basis point rate cut is expected in 2025.
Inflation status:
The Fed said that although inflation has eased, it is "still at a high level."
Core PCE inflation expectations:
The median core PCE inflation expectation for 2024 was raised from 2.6% to 2.8%.
The Fed's statement shows that they are cautious about the easing of inflation and believe that the current inflation level is still high and requires further observation and data support.
Therefore, despite the improvement in inflation data, the Fed is not in a hurry to cut interest rates and will maintain a meeting-by-meeting model in future policy decisions, that is, making decisions based on new data and economic conditions at each meeting.
What we need to do now is to hold on to the chips in our hands. It is impossible for the price to fall much further. At most, there will be one more drop before the price rises again!
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