In coming months the pace and size of rate cuts will be totaling dependent on future economic data. In his post FOMC press conference Chair Powell made this point clearly. “In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.” Chair Powell cautioned not to read too much in the projections in the Summary of Economic Projections (SEP). “These projections, however, are not a Committee plan or decision. As the economy evolves,...
