The FOMC raises rates 50 BPS. Ben Emons discusses this as the Fed repeats that "ongoing" rate increases are likely appropriate and only 2 policy makers project year-end 2023 Fed funds below 5%. He talks about how the Fed sees PCE inflation at 3.1% in 2023 vs 2.8% prior. He then goes over how the Fed sees terminal at 5.1% in 2023, then 100 BPS of cuts by the end of 2024. Tune in to find out more about the stock market today.
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