Just a few minutes ago … so pause and continue on the soft landing glide slope. There is hope for copper still … now swivel to consider the Chinese economy I guess.
“Here are key takeaways from the Fed’s interest-rate decision and economic forecasts on Wednesday:
Federal Open Market Committee votes unanimously to leave benchmark rate unchanged -- as expected -- in target range of 5.25%-5.5%, a 22-year high
“Dot plot’' of rate projections shows policymakers still foresee one more hike this year, but 2024 and 2025 rate projections each rose by a half-percentage point, a signal the Fed expects rates to stay higher for longer
Twelve of 19 policymakers on the FOMC expect one more rate hike this year to be appropriate; the remaining seven favor holding rates steady
Median projection for economic growth in 2023 jumps to 2.1% from 1% in June; officials significantly reduce unemployment forecasts and now expect jobless rate to peak at 4.1%, rather than 4.5%
Statement repeats prior language saying officials are considering “the extent of additional policy firming that may be appropriate”; Fed acknowledges job gains have “slowed” but says they “remain strong”
Kiss yer sister Jerome!