The Federal Open Market Committee (FOMC) statement today (at 1900 GMT) and Powell's news conference following (1930 GMT) are the focus.
Earlier previews:
- Slower than expected rise in US CPI adds to the case for a sooner, lower terminal rate
- Goldman Sachs FOMC preview - expect a higher peak rate projection, and larger cuts in 2023
This snippet now is via ABN Amro on what they expect in Q1 of the new year ahead:
- We expect the Fed to hike rates a further 50bp in December
- and 25bp hikes in Feb & March
- with the upper bound to peak at 5%
- Subsequently, we expect the Fed to pause, assuming inflation continues moving lower and the labor market deteriorates.