to triple down on its September rate cut mistakeThe federal funds futures market currently impliesof the Federal Open Market Committee . A 25 basis point cut will bring the cuts in the second half of 2024 to 100 basis points, a significant easing of the stance of monetary policy, despite a strong labor market and stubbornly persistent inflation.consumer prices rising at a breakneck annualized rate of 3.
Note that we’re annualizing the month-to-month figures here because it highlights how far above the Fed’s target the most recent numbers are, and it makes the acceleration more obvious. Both, matching the prior month’s core figure and ahead of the 0.2 percent previous reading for headline inflation.
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