Fed's Beige Book continues to see slight-to-moderate US growth
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The FOMC held the federal funds rate steady at the 3.50% to 3.75% at its latest meeting but several members dissented regarding the dovish bias that's in the statement. The market is pricing in 20 basis points in rate hikes by year end as it weighs the inflation shock from the Ir
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4 itemsFed Beige Book: Growth Continues, Uncertainty Lingers
Fed holds rates steady as three FOMC members dissent
The Federal Reserve's recent decision to hold interest rates steady, despite dissent from three FOMC members, highlights ongoing uncertainties in the U.S. economy. Markets had anticipated a potential rate hike, pricing in a one-third chance of a 25bp increase; however, the Fed opted for caution ahead of further employment and inflation data, with current rates maintained at 3.5-3.75%. Per the full note [source], the implication is a more extended period of steady policy, projecting a likelihood of rates remaining unchanged into 2027. This decision has prompted slight softening in the dollar and shifts in the yield curve.