Banc March: Round of statements from Fed members, where the word “patience” has been recurrent in their speeches and they delay the first cut to the end of the year and even 2025. The Atlanta Fed president believes that inflation is too high and does not consider it appropriate to lower the cost of money until the end of the year. He also said he was open to raising rates if inflation moves in the opposite direction to the target. The same message was conveyed by the president of the New York Fed, who said that, if the data were to call for higher rates, “obviously” they would do so. For his part, the Minneapolis Fed president says he needs more confidence until they are convinced that inflation is contained towards 2% before they start cutting rates, which could be postponed until after 2024.
Fed members talk of “patience”, first cut not likely until end of year or even 2025
