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Fed's Signal: FOMC Not Fully Endorsing Market's Pricing for December Rate Cut
Summary: According to a report from sources, Nick Timiraos, known as the 'Fed's Signal,' assessed Fed Chair Powell's remarks, stating: 'Powell's press conference indicates that the FOMC as a whole does not fully endorse the market's high pricing for a December rate cut.' Powell stated: 'There is a wide range of views on how to proceed ...
According to a report from sources, Nick Timiraos, known as the 'Fed's Signal,' assessed Fed Chair Powell's remarks, stating: 'Powell's press conference indicates that the FOMC as a whole does not fully endorse the market's high pricing for a December rate cut.' Powell stated: 'There is a wide range of views on how to proceed in December.' He emphasized that the December rate cut 'should not be seen as a done deal. In fact, far from it.' This goes beyond their usual disclaimer that 'policy is not on a preset course,' clearly an effort to regain some policy flexibility to avoid being forced into a specific action. What if there is no government data to clarify the economic situation? Powell pointed out that this means there is a 'very high degree of uncertainty, which could be a reason for cautious action.'
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Link: Fed's Signal: FOMC Not Fully Endorsing Market's Pricing for December Rate Cut [Copy]
