Central Bank Watch
FOMC Statement and Powell’s Press Conference
December 18, 2024
The FOMC statement announces the Fed’s third rate cut since September, a drop of 25 basis points, matching the market consensus and bring the total decline from peak to a full percentage point. The new federal funds range is 4.25-4.50%. In a 10-1 vote, Cleveland District President Beth Hammack preferred keeping the range at 4.50-4.75%. […] More
Central Bank Watch
FOMC Preview
December 18, 2024
The Federal Open Market Committee last met right after the U.S. election that is returning Donald Trump to the White House with a majority in both houses of Congress and the Supreme Court and with a revolutionary policy agenda that among other things may lift inflation near term. At the November press conference after a […] More
New Overnight Developments Abroad - Daily Update
A U.S. Current Account Stunner Prior to the FOMC Announcement
December 18, 2024
The last FOMC announcement of 2024 arrives this afternoon. A 25-basis point interest rate cut is still expected, but a strong sense of suspense surrounds what is said about likely policy next year and the unveiling of updated forecasts from America’s central bank. While investors await the Federal Reserve’s show, the Commerce Department released third-quarter […] More
