After two consecutive pauses, what is next for the Federal Reserve? Economists at JP Morgan analyze chances of another hike this cycle.
The Fed will remain data dependent going forward
The Fed will remain data dependent going forward, and having now paused hiking rates for two consecutive meetings this suggests they are willing to exercise patience and proceed carefully.
While a reacceleration in growth and/or inflation could prompt another rate hike either in December or early next year, short-term bumps in a downward trending economy likely keep the Fed on hold well into 2024.
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