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Fed Snubs Market On Median 2023 Dot, But Upgrades Inflation Forecasts
Fed officials offered a modest upgrade to their assessment of the US economy at the March FOMC meeting, while preserving cautionary language to reflect the inherent indeterminacy of forecasting during a once-in-a-generation public health crisis.
"Indicators of economic activity and employment have turned up recently," the new statement read.
That was slightly more upbeat compared to the assessment the Committee delivered in January, when the statement lamented a moderation in the pace of the r
The market is happy.
Yeah, I mean “snubbed” obviously refers to expectations for the median projection to shift up for 2023
“Palatable Powell” placates players, prescribes policy palliatives
tldr: don’t worry, be happy 😉