2024-09-21 07:12
IndustryThe Fed’s big rate and projections cut
The Fed cut the Fed Funds rate by 50bps, which was in line with prevailing market expectations (the probability of such an outcome was over 67% at the beginning of the week) and surprised 104 out of 113 respondents in leading financial media polls. As the sharp cut was not fully priced in, we see a strong market reaction. This change sheds light on the Fed’s approach to monetary policy and could lead to a prolonged market correction, potentially changing the rules of the game for the dollar.
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The Fed’s big rate and projections cut
| 2024-09-21 07:12The Fed cut the Fed Funds rate by 50bps, which was in line with prevailing market expectations (the probability of such an outcome was over 67% at the beginning of the week) and surprised 104 out of 113 respondents in leading financial media polls. As the sharp cut was not fully priced in, we see a strong market reaction. This change sheds light on the Fed’s approach to monetary policy and could lead to a prolonged market correction, potentially changing the rules of the game for the dollar.
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