Tapas Strickland
speaker
3,313 appearances
30 recordings
1 series
first heard Sep 2024
last heard Aug 2025
Tapas Strickland’s voice in public audio — every appearance, attributed to the second.
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Appearances
NAB Morning Call · Fed all agree to hold, but mixed view on dots as outlook weakens · 18 Jun 2025
podcast
Good morning, Phil.
Uh I don't think we learnt that much from the F LMC meeting overnight.
Indeed, when you look at market pricing for uh rate cut expectations, they're pretty much little changed by the end of twenty twenty five.
So forty six point four basis points priced from forty five point six basis points on Tuesday, you look at yields there, they did dip lower on the initial headlines, but have pretty much reversed those those kind of moves.
So I don't think for markets we learnt that much, but it
As you noted, the distribution of the dot plot was probably the most interesting there.
And the there's still ten FMC members who are looking to cut rates at least twice this year, and hence the reason why there's still two cuts penciled into the median dot pl dot point for twenty twenty five.
But uh it's it's a much narrower majority than in March.
And uh as you noted, seven penciled in no change this year up from just four.
And so when when you look at the dot plot
The median dot unchanged at three point nine by the end of twenty twenty five.
Uh and then also the dot plot was also lifted a little bit higher in twenty twenty six.
So that's now sitting at three point six percent from three point four percent.
And the twenty twenty seven dot is also a little bit higher at three point four percent from three point one percent.
So
Yes, yes.
And so uh uh in that sense I think um i it's it's still uncertain exactly uh the trajectory and speed of prospective cuts from the Federal Reserve.
But the important thing to note is uh that uh policy is considered to be moderately restrictive.
Um once you get more clarity in terms of inflation, then that's when the US Fed can start to think about more in terms of policy.
And uh importantly I thought uh Fed Chair Penn
Showing 661–680 of 3,313 · page 34 of 166
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