The US Federal Reserve’s Summary of Economic Projections, the so-called dot plot, revealed on Wednesday that officials’ median view of the Fed’s policy rate at the end of 2023 stands at 4.6%, compared to 3.8% in June’s dot plot.
Key takeaways via Reuters
“Fed officials’ median view of fed funds rate at end-2022 4.4% vs 3.4% in June projection.”
“Fed officials’ median view of fed funds rate at end-2024 3.9% (prev 3.4%).”
“Fed officials’ median view of fed funds rate at end-2025 2.9%.”
“Fed officials’ median view of fed funds rate in longer run 2.5% (prev 2.5%).”
“Ffed officials see year-end US jobless rate at 3.8% in 2022 (prev 3.7%); 4.4% in 2023 (prev 3.9%); 4.4% in 2024 (prev 4.1%); 4.3% in 2025; long-run at 4.0% (prev 4.0%).”
“Fed officials see PCE inflation at 5.4% in 2022 (prev 5.2%); 2.8% in 2023 (prev 2.6%); 2.3% in 2024 (prev 2.2%); 2.0% in 2025; long-run at 2.0% (prev 2.0%).”
“Fed officials see GDP growth at 0.2% in 2022 (prev 1.7%); 1.2% in 2023 (prev 1.7%); 1.7% in 2024 (prev 1.9%); 1.8% in 2025; long-run at 1.8% (prev 1.8%).”
“One Fed official sees US GDP contracting in 2023.”
“Summary of economic projections implies at least one more 75-basis-point rate hike in 2022, no rate cuts until 2024.”
सोने की कीमतें नाटकीय रूप से कमजोर हुई हैं क्योंकि फेडरल रिजर्व (फेड) के अध्यक्ष जेरोम पॉवेल ने 2% की वांछित दर से अधिक एड-ऑन मुद्रास्फीति को मिटाने के लिए ब्याज दरों पर अपेक्षा से अधिक तेजतर्रार मार्गदर्शन दिया है।
Gold prices have weakened dramatically as the Federal Reserve (Fed) chair Jerome Powell has delivered higher-than-expected hawkish guidance on interest rates to wipe off the add-on inflation beyond the desired rate of 2%.