FOMC today will be the most significant financial event for the US economy. Fed interest rate decision and FOMC economic projection.
What I'm looking for today:
✅ 25-50 BPS rate cut. CME give 50 BPS a 63% chance.
✅ The Fed outline future economic outlook, possible future rate cut. I think it is likely that we see 50 BPS in Nov and Dec.
✅ The Fed will talking about Inflation rate has gone down significantly.
✅ Unemployment rate as I have mentioned the whole 2024 is on the rise in the US. The Fed will have to lay out a plan.
I have been telling you for months now, that the unemployment rate has begun to curve up. Once it started to rise it will snowball.
Unemployment rise > Consumer spending decreases > lower Income > More unemployment.
The snowball effect of the economy is always greater than what normal people understands.
