All eyes are on the Federal Open Market Committee (FOMC)meeting today.
And after the large number of US data last week, this Fed meeting will be much more interesting than it should be.
The question now is whether the Fed still considers it appropriate to keep a June rate cut on the table or not, as there will be two main parts to the policy decision that we have to scrutinize today.
The first is, of course, the economic forecasts, as this is a quarterly meeting and we must look at the long-awaited bullet charts, where the focus is on the points of 2024 first, which are the most important now.
As recent forecasts have shown that the average indicates a cut in interest rates by 75 basis points this year, it is a close step and it can be said that the points today will be close to this, which says that the Fed may reduce interest in 2024 by 75 basis points.
Will it stay at 75 basis points or can we see 50 basis points instead This can lead to a slightly chaotic reaction at first.
The next key part will, of course, be the press conference of Fed Chairman Powell, since it's about the way he will convey the Fed's current position.
And did last week's data change anything Or is the door still open for June to start cutting interest this year.
