FOMC Rate Hike Watch: CME FedWatch Tool Updates
The Latest on Interest Rates
The Federal Open Market Committee (FOMC) has been on a mission to control inflation through a series of interest rate increases. At the July 2023 meeting, the FOMC raised rates to a range of 5.25%-5.50%, marking the 11th hike in the current cycle.
Fed Funds Rate Target Range Maintained
Experts predict that the FOMC will keep its target range between 5.25% and 5.50% for the time being. This represents the highest target level since 2001.
CME FedWatch Tool: Tracking Rate Hikes
For those following the FOMC's rate hike trajectory, the CME FedWatch Tool provides valuable insights. This tool uses market data to indicate the probability of future rate increases.
FOMC Summary of Economic Projections
In conjunction with the March 2023 FOMC meeting, the committee released its Summary of Economic Projections. This report provides projections for the fed funds rate through 2024, offering a glimpse into the FOMC's expectations.
Conclusion
As the FOMC continues to navigate the challenges of inflation, the CME FedWatch Tool and the Summary of Economic Projections serve as essential resources for understanding and anticipating future rate hikes. These tools empower individuals and businesses to make informed decisions in an evolving economic landscape.
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