Views on US Fed`s December 2023 Policy By Dr. Manoranjan Sharma, Infomerics Ratings
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Below Views on US Fed`s December 2023 Policy By Dr. Manoranjan Sharma, Chief Economist, Infomerics Ratings
There is an element of both change and continuity in US Fed’s dovish December 2023 Policy. While the bank rate was left unchanged, there are unmistakable indications that with falling inflation and decelerating macroeconomy, the upward bias on the interest rate has run its course. Infact, given the evolving growth-inflation dynamics, there could be 75 bps cut in 2024. No wonder, then, the forward guidance spurred the Dow Jones Industrial Average to soar by more than 400 points, thereby breaching the 37,000 mark for the first time. Sign of the times!
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