What is priced in for the Fed after the FOMC meeting yesterday? ...Middle East

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What is priced in for the Fed after the FOMC meeting yesterday?
The two big takeaways from the FOMC statement and Powell's press conference were:The Fed will only cut rates when "it has gained greater confidence" that inflation will get to the 2% targetPowell says that "it is likely we don't have enough confidence to cut in March"The odds of a March rate cut were sitting around ~62% going into FOMC meeting itself. Right now, that has been cut all the way down to ~35%. Meanwhile, the total reduction in rates for the year is seen at around ~140 bps at the moment.So, what's next for markets?The Fed has already laid out their supposed 'base case' scenario for the months ahead. And that means all else being equal, a rate cut in March should be off the table.

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