The Federal Reserve Open Market Committee just wrapped up its last policy meeting for the year. As widely anticipated, Fed officials kept the target for the Fed funds rate unchanged at 5.25% – 5.5% for the third consecutive meeting. The primary focus was on the Fed’s updated guidance regarding the prospective path for the policy rate for 2024. The guidance came via changes to the policy statement, the updated macro and interest rate projections, and Chairman Powell’s press conference.
Nationwide’s Chief Economist Kathy Bostjancic and Head of Enterprise Portfolio Management Leo Svoboda react to the FOMC’s recent announcement and press conference from their December meeting. Kathy and Leo provide their outlook for interest rates and Treasury yields in 2024.
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