Ignore The Hawkish Fed: Not Only Is GDP About To Tumble, Next Week It Will Be Revised Sharply Lower

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by Tyler Durden
Thursday, Sep 21, 2023 - 10:12 AM

The Fed shocked markets today when it in its latest dot plot, the FOMC - which kept rates unchanged as expected - raised the median 2024 dot to indicate that it expects to cut rates just two times to 5.1% instead of the 4 cuts projected previously...

... as a result of modestly stickier inflation, stronger overall growth and lower unemployment. Additionally, 12 of the FOMC participants projected one more hike this year while 7 participants projected that the funds rate would remain unchanged.