latest economic forecast from the Federal Reserve shows that policymakers expect the median inflation rate at the end of this year to remain at 3%, well above the central bank's target of 2%, consistent with the previous forecast in June. The forecast for the unemployment rate also remains unchanged at 4.5%, and the forecast for economic growth has been raised from 1.4% to 1.6%.
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The Fed maintained its inflation and unemployment forecasts for this year and raised its economic outlook
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Spot gold falls more than $20 from record high
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Fed dot plot: overall more accommodative, one official expects a 150 basis point rate cut this year
Federal Reserve's dot plot shows that out of 19 officials, 1 official believes that there will be no rate cut in 2025 (compared to 7 in June), 6 officials believe that there should be a cumulative rate cut of 25 basis points in 2025, i.e. 1 rate cut (compared to 2 in June), 2 officials believe that there should be a cumulative rate cut of 50 basis points in 2025, i.e. 2 rate cuts (compared to 8 in June), 9 officials believe that there should be a cumulative rate cut of 75 basis points in 2025, i.e. 3 rate cuts (compared to 2 in June). One official (likely Milan) believes that there should be a significant rate cut of 150 basis points in 2025, i.e. at least two more significant rate cuts within the year (75BP+50BP). -
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Federal Reserve FOMC statement: Federal Reserve Governor Milan opposed the interest rate decision this time and believed that interest rates should be cut by 50 basis points. -
The Fed's median forecast shows another 50 basis point rate cut in 2025
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The Federal Reserve cut interest rates by 25 basis points, resuming its pace of rate cuts
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