The Federal Reserve is widely anticipated to keep interest rates unchanged at its September meeting but what investors are more anxious to find out is whether policymakers will keep the door open to further hikes. The other big discussion point is about the rate path in 2024, specifically, if the median dot plot will be revised higher.
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A year ago, core inflation still hadn’t peaked, the drivers of inflation were widely misunderstand, and policymakers were going all out. By now, inflation has clearly peaked and inflation expectations are under control. Fed policymakers will want to maintain some restraint on the economy, but stock market buoyancy certainly hasn’t been an issue for them