A wild FOMC meeting triggered by a rejiggering of the dots. Those don’t really matter except as insight into how confused policymakers have become. Why are they confused? Rate hikes don’t appear to be working, so they are having a hard time deciding what should happen next. Markets aren’t so conflicted, only about the likeliest path for ST rates.
Eurodollar University’s Money & Macro Analysis
FOMC March 2024 Policy Statement
https://www.federalreserve.gov/monetarypolicy/files/monetary20240320a1.pdf
FOMC March 2024 Summary of Economic Projections
https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20240320.pdf
CSPAN: President Biden Campaign Remarks March 8, 2024
https://www.c-span.org/video/?534118-1/president-biden-delivers-campaign-remarks-philadelphia
https://www.eurodollar.university
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