The Fed shocked markets today when it in its latest dot plot, the FOMC – which kept rates unchanged as expected – raised the median 2024 dot to indicate that it expects to cut rates just two times to 5.1% instead of the 4 cuts projected previously…
… as a result of modestly stickier inflation, stronger overall growth and lower unemployment. Additionally, 12 of the FOMC participants projected one more hike this year while 7 participants projected that the funds rate would remain unchanged.
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https://www.zerohedge.com/markets/ignore-hawkish-fed-not-only-gdp-about-tumble-next-week-it-will-be-revised-sharply-lower
