Focus - Fed cut rates, but projects fewer cuts in 2025

The Fed lowered their fed funds rate by 25 bp to a 4.25%-4.50% range, as expected. The Fed nudged their inflation forecasts up a smidgen for end of 2025 and their dot-plot projection for fed funds changed. We still look for a 3.5% terminal rate in this cycle, the Fed's long-term projection ticked up to 3.0% from 2.9%. Interesting times ahead! If you would like to read our report, contact us at info@tricio-advisors.com.