The Fed -- The WSJ -- A Nice Note -- September 21, 2023

Locator: 45526ECON.

Link here.

Federal Reserve policy makers on Wednesday held to their target range on rates—no surprise there. If there was a surprise, it was how little they expect to cut rates next year. 

Updated projections showed that most policy makers still expect to raise rates again in 2023, though with less conviction than before. Whereas, following their June meeting, a few officials anticipated raising rates by more than a quarter point above the current level, now none do. And seven of 19 officials don’t expect to raise rates again at all.

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Follow-Through

How many saw this coming? By the end of the month, it will be worse. Link here.

 

It's not how you start a race, it's how you finish. You may not want to enter all races.