Key Inter-Meeting Fed Speak – Mar 2025
Mar-13 20:16By: Tim Cooper
Federal Reserve
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EXECUTIVE SUMMARY:
Ahead of next week's Fed decision, we've published our summary of FOMC participant communications since the January FOMC meeting, including MNI's Hawk-Dove Matrix.
- The key theme of Fed communications since the January meeting is that participants from across the Hawk-Dove spectrum are in no hurry to adjust policy.
- If anything, participants’ comments suggest the urgency to cut rates has only diminished since the January FOMC, and certainly since the December Dot Plot meeting showed a median of 2 rate cuts expected in 2025.
- No member in the inter-meeting period supported a cut as soon as March.
- And while none expressed conviction for a rate hike at any point, even the most dovish outlooks suggested only as many as 3 cuts this year.
