❗️ COVERING LETTER #FRS

Fed forecast for 2024 - Three rate cuts of 0.25 bps.

▫️The US economy is expanding at a confident pace.

▫️Inflation has decreased, but still remains high.

▫️The goal is 2% inflation and maximum employment in the labor market.

▫️The Fed is closely monitoring inflation risks.

▫️Balance reduction (QT) continues. There are no changes.

▫️The Fed is ready to adjust monetary policy if economic risks arise.

Next: live text broadcast of the conference with J. Powell.