SUMMARY OF FED DECISION (12/18/24):

  • Fed cuts rates by 25 bps for a total of 100 bps in 2024.

  • Cleveland Fed President Beth Hammack dissented.

  • Fed median forecasts shows 2 cuts in 2025 for 50 bps.

  • Fed revises end of 2025 inflation projection from 2.1% up to 2.5%.

  • Fed sees unemployment at 4.3% at end of 2025.

  • One Fed official sees no rate cuts in 2025.

The battle against inflation continues in 2025.

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