Who wants a Nothing Burger?

Nobody was expecting the Fed to change rates, so they met expectations.

What is Know The Difference Minute?

Hot topics, fresh stories and useful formation; all in 60 seconds

A delicious nothing burger
Welcome to the Know the Difference Minute for March 20, 2024
The Federal Open Market Committee met today and didn’t do a thing. Yes, they updated their forecasts and had a discussion about their balance sheet, but they didn’t change rates. Nobody was expecting them to change rates, so the Fed met expectations.
A really nice development is that the Fed’s forecasts now say they don’t feel like they have to kill the economy to beat inflation.
They did nothing, so it was a nothing burger of a meeting, but the markets seemed to take a big bite out of it and enjoyed every moment. Why?
There was a fear that with recent readings of inflation moving the wrong way that the Fed might overreact and signal they would wait even longer to start cutting rates. Instead, it’s steady as she goes.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.