The Fed's Nov 2023 meeting

2023-11-01
Summary:

To curb surging inflation, the Fed has hiked rates 11 times since March 2022, with a September pause. Powell stays cautious about ending the battle.

The Fed's Nov meeting


02 Nov 2023


Previous(Sep):5.50% | Forecast:5.50%


In a bid to stamp out the highest inflation in four decades, the Fed have made 11 interest rate hikes since March 2022 before a pause in Sep. But Powell is yet convinced that inflation fight is over.


The consumer price index increased 3.7% in September from a year ago, still nearly double the Fed's 2% target. Surprisingly strong retail sales and tight job market continue to signal “higher for longer” path.


The CME 'Fed Watch' tool shows markets are pricing a 26% probability of another 25bps hike in Dec. Top Fed officials indicated that rising yields could substitute for further tightening.

The Fed's Nov 2023 meeting

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