FOMC is Waiting for Clarity, Too

Fed Waiting, Like the Rest of Us   The Federal Open Market Committee (FOMC) met this week, deciding to leave the reserve rate unchanged as expected (a unanimous decision amongst voters). The Fed’s so-called “dot plot,” which projects participants’ expectations...

Dueling Mandates in Play for FOMC

Atlanta Fed GDP Now Shows First Signs of GDP Sputtering in Several Years   The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 came in at -2.8% on March 3, down from -1.5% on February 28. Following releases from...

Not Relying on Help From FOMC

FOMC Update   The January FOMC meeting went as expected (no rate cut). Chairman Powell offered limited forward guidance, stating that “we’re meaningfully above” the neutral rate for fed funds but countered that by noting the Fed is in no hurry to cut rates.  ...

The Market in Pictures, December 20

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Joseph: The FOMC confirmed what the market had started to price in, that rates wouldn’t be cut as quickly as...

FOMC: Buying Time

As expected, the Fed cut rates for a third time this year (100bps total), reducing the range for the Federal Funds target to 4.25-4.50%. The Committee signaled a significant reduction in its forecast for additional policy adjustments over the next 24 months as well as...