With no prospect of the Fed adjusting policy next week, the focus of the FOMC meeting will be the new SEP forecasts. The “dots” are likely to cluster around one or two interest rate cuts this year, with a single cut the marginally more likely median. Nevertheless, as inflation falls a bit faster than officials expect and GDP growth disappoints, our base case remains that the Fed will cut in September.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services