JP Morgan expect a dovish Federal Reserve Chair Powell after Wednesday’s FOMC statement

Via a note from JP Morgan chief US economist Michael Feroli on Friday:

On the ‘dot plot:

• he expects the Fed to project a median of two interest rate cuts to come in 2024

The dots showed three in their most recent update, at the March meeting.

At Federal Reserve Chair Powell’s press conference expects:

• will be perceived dovish
• “we expect Chair Powell will express confidence that the economy is still on the right path and that the FOMC can be patient in gaining confidence that inflation is heading toward 2%”

Dots pic of Powell

This article was written by Eamonn Sheridan at www.forexlive.com.