Federal Reserve’s policymakers divided
On the US front, Fed officials continued to lay the groundwork for easing policy, but there’s division among the Federal Open Market Committee (FOMC) board. Atlanta’s Fed Raphael Bostic noted that he expects one rate cut instead of two in 2024. Meanwhile, Fed Governor Lisa Cook said that easing policy too soon increases the risk of inflation becoming entrenched.
Chicago Fed President Austan Goolsbee, leaning on the dovish side, expects three cuts, though he says he needs more evidence of inflation “coming down.”
Traders eye US PCE figures and further economic data
In the US economic docket, investors will eye the release of Gross Domestic Product (GDP) figures for the last quarter of 2023, unemployment claims, and the Fed’s preferred gauge for inflation, the core PCE.
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