Wall Street Overnight
* Stocks slipped as yield on the 10-year US Treasury note topping 5% once again
The Federal Reserve:
* Raised the Federal Funds Rate (FFR) by 25 bps to the target range of 3.75% to 4% from 3.5% to 3.75%, the first since July 2023
Summary of Economic Projections
* GDP is seen expanding at a slightly faster pace in 2026 (2.3% vs 2.2% in the June projection) and 2027 (2.4% vs 2.3%).
* Inflation is seen higher this year (3.7% vs 3.6%) but the forecast for 2027 was kept at 2.3%.
* Core inflation is also seen up in 2026 (3.4% vs 3.3%) but the forecast was left at 2.5% for 2027. #FedRateWatch
* Stocks slipped as yield on the 10-year US Treasury note topping 5% once again
The Federal Reserve:
* Raised the Federal Funds Rate (FFR) by 25 bps to the target range of 3.75% to 4% from 3.5% to 3.75%, the first since July 2023
Summary of Economic Projections
* GDP is seen expanding at a slightly faster pace in 2026 (2.3% vs 2.2% in the June projection) and 2027 (2.4% vs 2.3%).
* Inflation is seen higher this year (3.7% vs 3.6%) but the forecast for 2027 was kept at 2.3%.
* Core inflation is also seen up in 2026 (3.4% vs 3.3%) but the forecast was left at 2.5% for 2027. #FedRateWatch