FOMC Today 20March 2024

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Fed Chair Jerome Powell’s Press Conference: At 2:30 p.m. ET, Fed Chair Jerome Powell will address the media. His statements during the press conference will provide additional clues about the path forward for interest rates.
  • The Fed faces a busy agenda this week, but it may not significantly alter the monetary policy outlook.
  • The focal point of this meeting will be the “dot plot”, which reveals individual members’ interest rate expectations. The release of a new “dot plot” will reveal officials’ forecasts for future interest rates. This visual representation helps us understand the consensus among policymakers regarding rate changes.
  • Additionally, officials will provide their quarterly economic update, covering gross domestic product (GDP), inflation, and the unemployment rate.

A comprehensive analysis of the FOMC Meeting is in our article here https://preferforex.com/fomc-march-20/
 
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S2007S said:
Markets skyrocket after fed meeting and announcements today.

He will be dovish and give what wallstreet wants as he always does. Maybe not Rate cuts right away, but he will keep the market rally going by hinting that Rate cuts are coming in 2024 as he watches inflation data.
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Can't wait for $100.00 oil.
 
S2007S said:
Markets skyrocket after fed meeting and announcements today.

He will be dovish and give what wallstreet wants as he always does. Maybe not Rate cuts right away, but he will keep the market rally going by hinting that Rate cuts are coming in 2024 as he watches inflation data.
More...
This aged well no surprise, I guess.

I was talking to one my friends who is mortgage banker at JP Morgan and he said that the Fed is kind of hamstrung in that they know the CRE tsunani that is coming will absolutely destroy a lot of Regional banks so that they kind of have to lower rates at least 100 bps in order to get the CRE rollover refis to work out (he used to work at First Republic which was bought by JP Morgan).
 
nitrene said:
I was talking to one my friends who is mortgage banker at JP Morgan and he said that the Fed is kind of hamstrung in that they know the CRE tsunani that is coming will absolutely destroy a lot of Regional banks so that they kind of have to lower rates at least 100 bps in order to get the CRE rollover refis to work out (he used to work at First Republic which was bought by JP Morgan).
More...

Are you saying that smaller banks are over leveraged on commercial Real estate?
 
Yes, regional banks are on the hook, but IMO Powell just wants to keep his job, with Biden, rather than full Fed conversion via Trump. I'm still waiting to see of No Label party finds a candidate.
 
Spaghetti Code said:
Are you saying that smaller banks are over leveraged on commercial Real estate?
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Yes. That is the case for most of it. I think some are on the books of large banks like JP Morgan & Bank of Americas as well. As a percentage though, some regionals are in trouble unless they can refi at 100-150 bps lower than the current market conditions.
 
nitrene said:
This aged well no surprise, I guess.

I was talking to one my friends who is mortgage banker at JP Morgan and he said that the Fed is kind of hamstrung in that they know the CRE tsunani that is coming will absolutely destroy a lot of Regional banks so that they kind of have to lower rates at least 100 bps in order to get the CRE rollover refis to work out (he used to work at First Republic which was bought by JP Morgan).
More...
%%
I know what you mean;
many regionals are run much better than the biggest banks, in diversification, customer service + never get fined like the big banks do.
But we hear a lot of that reginal doom-gloom, on the news, but that makes it suspect also.
JPM is doing well YTD;
JPM =much better than BAC with thier lousy customer service .:caution::caution:
 
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