It’s Fed day.
With few expecting the Federal Reserve to move interest rates in its policy announcement on Wednesday, much of the investor focus will be on how many interest rate cuts the Fed will project for 2024.
Yahoo Finance’s Jennifer Schonberger has the preview of today’s presser:
In focus will be the Fed’s latest “dot plot,” a chart updated quarterly that shows the prediction of each Fed official about the direction of the federal funds rate.
In December, the dot plot revealed a consensus among Fed officials for three cuts for 2024, the first sign that the central bank was prepared to start loosening monetary policy.
Now that projection is in question following a string of hotter-than-expected inflation readings and cautious commentary from Fed officials.
Fed Chair Jay Powell and his colleagues have been emphasizing for months that they want to be sure inflation is moving…
