Copy and Paste! The December FOMC statement was nearly identical to November’s and too be expected with key economic data points roughly staying the same over the past two months as the committee held rates at the current levels. BUT the statement was cast aside like socks as a gift on Christmas morning for a brighter and shinier 2024 dot plot. In a surprise move away from the “higher for longer” theme, FOMC participants now see the medium Fed Funds rate for 2024 at 4.6% compared to 5.1% previo…
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