Bank of America still forecasting a December Federal Open Market Committee (FOMC) rate cut
BoA's key takeaways from the Fed meeting and Powell's presser:At the May FOMC meeting, the Fed acknowledged that they had taken on board some of the signals from the recent inflation dataThe Fed is reducing the pace of runoff to lower the risk of a disruption in funding marketsWe retain our view for a first rate cut in December on the idea that inflation will remain stickier and slower to come downBoA add that the Fed has shifted to wait-and-see mode. More on the FOMC:Forexlive Americas FX news wrap: Fed pushes back against rate hike fears This article was written by Eamonn Sheridan at www.forexlive.com.
BoA's key takeaways from the Fed meeting and Powell's presser:
- At the May FOMC meeting, the Fed acknowledged that they had taken on board some of the signals from the recent inflation data
- The Fed is reducing the pace of runoff to lower the risk of a disruption in funding markets
- We retain our view for a first rate cut in December on the idea that inflation will remain stickier and slower to come down
BoA add that the Fed has shifted to wait-and-see mode.
More on the FOMC:
This article was written by Eamonn Sheridan at www.forexlive.com.
