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Fed's Rate Cut Campaign to Continue
We look for the FOMC to cut policy rates by 25 bps on November 7, with the target range for the fed funds rate falling to 4.50%-to-4.75%. The market is currently pricing almost full odds (92%) of a quarter-point move. Before, in the immediate wake of mid-September’s surprise 50 bp rate reduction, which kicked off the easing campaign, the market was betting better-than-even odds (56%) of a ‘follow-up-50’ for next meeting. Then, as the subsequent parade of economic indicators boasted some upbeat floats, the market pared its rate cut expectations. We figure the tone to the post-September 18 data has been more of a ... (full story)
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- Posted: Nov 2, 2024 11:00am
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 5,314
