Description
A wild FOMC meeting triggered by a rejiggering of the dots. Those don't really matter except as insight into how confused policymakers have become. Why are they confused? Rate hikes don't appear to be working, so they are having a hard time deciding what should happen next. Markets aren't so conflicted, only about the likeliest path for ST rates.
Eurodollar University's Money & Macro Analysis
FOMC March 2024 Policy Statementhttps://www.federalreserve.gov/monetarypolicy/files/monetary20240320a1.pdf
FOMC March 2024 Summary of Economic Projectionshttps://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20240320.pdf
CSPAN: President Biden Campaign Remarks March 8, 2024https://www.c-span.org/video/?534118-1/president-biden-delivers-campaign-remarks-philadelphia
https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU
The first bank failure of 2024 is a familiar tale. A relatively small institution in Philadelphia, by itself it doesn't really mean all that much. However, there are a couple of important developments to go along with the background which raise questions and a few concerns. Is this the second...
Published 04/30/24
This week's big miss in US GDP raises several questions about the state of the economy. It was significant enough to immediately call into doubt the soft landing. Last year's surge now appears to have been just a short run temporary jump, meaning GDP might be joining the majority of macro data...
Published 04/29/24