Inflation Is Falling Faster Than The Consensus Expectations

The FOMC voted 11-0 for Fed funds rate action. The FOMC notes that economic activity has been expanding at a moderate pace. They also mention that future actions depend on tightening impact, economic and financial developments. Josh Sailar discusses this as the Fed is to consider the extent of additional firming to curb inflation. He notes that inflation is falling faster than the consensus expectations and the tightening cycle is not over, the effects are still coming through. He highlights that the Conference Board sees a recession likely in 3Q23 and 1Q24. Tune in to find out more about the stock market today.