Inside Baseball Version Of the March Fed Meeting

TL/DR: Fed will remove cuts for 2024 and 2025 and raise the neutral rate in an effort to tame animal spirits, re-anchor inflation expectations and push the economy back towards 2% inflation target.

Back in the June and September Dot plots, the Fed was looking for 2024 core PCE of 2.6%. Then, after better inflation momentum in 4q23, they shifted down this projection to 2.4% for the December Dot …