Fed Cuts Rates, but Projects Fewer Reductions Next Year
Federal Reserve officials projected just two rate cuts in 2025. Markets shuddered at the assessment, with the dollar soaring and stocks plummeting.
– Headlines from the New York Times
Inflation has eased notably, but remains above the Fed’s 2% target rate (2.7% as of November, up slightly from 2.6% in October).
Unemployment is at 4.1%, relatively low. Mortgage rates are going to stay in the 6 to 7% range through 2025, say most analysts.
[Graphic from CNBC]