Important
NOVEMBER 9, 2023 AT 01:41 AMFed’s Harker (2023 vote) said he supported steady interest rate stance at latest FOMC meeting; Fed will stay higher for longer, no sign of near-term rate cuts; Now is a time to take stock of past rate hikes’ impact
Source
SectionFed
- The next Fed rate choice "could go either way" depending on data.
- The labour market is moving into better balance.
- Unemployment rate to rise to 4.5% in 2024 before falling.
- Confident consumers will help achieve a soft landing.
- Unclear yet whether consumers have expended spending power.
- No recession seen, but growth is likely to cool off.
- Inflation steadily falling and is to hit 3% in 2024 and 2% after.