🚨The Fed leaves its rates unchanged at its first meeting of the year
Initial read through the statement is pretty hawkish
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The Federal Reserve leaves its rates unchanged at 4.25%-4.50% range.
The central bank notably removed reference to inflation making progress towards the goal - hawkish (explanation of the word under the link).
The statement also mentions that unemployment has stabilized at a low level - hawkish.
The Fed will also continue its QT program at an unchanged pace of $60 billion a month.
As a result, the market does not expect rate cuts at least until June 2025 and is pricing less than two cuts this year.
All eyes on the Fed's Chair Jerome Powell presser.
Full coverage of the event will be released before the end of the trading week. Before the release please find out the recap of December’s meeting:
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