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TAPR - Fed Surprises Market With Easier Policy Stance
Barclays Bank PLC ZC SP ETN REDEEM 24/07/2024 USD 50 - Series A
By Kathy A Jones
As expected, the Federal Reserve kept its benchmark short-term interest rate steady at its March meeting, leaving the Federal Funds rate¹ target range at 2.25% to 2.5%. That was not a surprise, as Federal Reserve Chair Jerome Powell had already indicated that the Fed planned to be "patient" about changing policy. However, the Fed surprised markets by indicating that policy for the remainder of the year will be even easier than had been expected.
Dots dipping lower
The Fed's "dot plot," a chart that shows where each member of