$BTC
UNRATE in their expectation could rise to 4.4%.
This means it is close to the NAIRU limit of 4.5%.
Then, they changed the target rate by the end of 2024 to the range of 4.4%.
That means there will be 2 more rate cuts, and it looks like each one is at 25bps.
From here it seems that they are quite concerned about the potential for an economic recession and are accelerating the rate cut process so that liquidity can immediately enter the market before an economic recession occurs.
