Deeper Analysis
FOMC Signals Only One Likely Interest Rate Hike Next Quarter But Less Reduction in 2024 Than Presumed Earlier
September 20, 2023
FOMC members voted unanimously not to increase the federal funds rate at their sixth scheduled monetary policy review of 2023, and they signaled that at the end of this year the rate is likely to be only 25 basis points higher than now. The big surprise to Fed officials regarding how the U.S. economy has […] More
Central Bank Watch
FOMC Preview
September 20, 2023
Today’s is the sixth of eight scheduled policy meetings in 2023. After ten straight interest rate hikes beginning in March 2022, the Federal Open Market Committee left the federal funds target unchanged at this year’s June meeting but implemented an 11th increase at the subsequent meeting eight weeks ago. Compared to the pandemic low range […] More
New Overnight Developments Abroad - Daily Update
Disinflationary News from U.K. and Germany Ahead of FOMC Statement
September 20, 2023
The dollar slipped overnight by 0.4% against the Australian and New Zealand currencies, 0.2% versus the euro and peso, and 0.1% relative to the Canadian dollar and Swiss Franc. Equities closed down 1.2% in India, 0.7% in Japan, 0.6% in Taiwan and Hong Kong and 0.5% in China but are currently showing overnight gains of […] More
