berg80
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- Oct 28, 2017
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Fed holds rates steady, indicates three cuts coming in 2024
The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond.
With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.
Along with the decision to stay on hold, committee members penciled in at least three rate cuts in 2024, assuming quarter percentage point increments. That’s less than market pricing of four, but more aggressive than what officials had previously indicated.
Fed holds rates steady, indicates three cuts coming in 2024
The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond.
www.cnbc.com
It's a fairly positive outlook meaning it's good for the country, in turn meaning it's not great for Repubs. Lowered interest rates and lower inflation translates to a strong housing market as mortgage interest rates decline, lower food costs, the continuation of a strong jobs market, with already low energy costs. Predictions are for sub $2 gas in parts of the country in part due to record US oil production.
If the reality of the economy can influence the disconnected attitudes voters hold, and Repubs continue their push for a national abortion ban, it could prove to be a tough election cycle. That said, they have a tremendous advantage in the upcoming Senate races as Dems will be trying to protect a number of vulnerable seats.