According to Jinshi Data, Marvin Loh, senior macro strategist at State Street Global Financial, said that the uncertainty brought about by the FOMC has led to a sharp rebound in PCE risks. This risk may intensify with the interference of the new government.
Loh noted that 2024 will be one of the worst forecast periods for the Fed. In March, the Fed had expected a rate cut, but now it has raised the terminal rate to the 3% range. He hopes the Fed will do better in its main job in 2025.
