, Columnist
A Fed Rate Cut in March Is Now Pretty, Pretty Unlikely
Lower rates are coming, but not as soon as markets had expected. And shareholders score some wins on governance.
Wait a little longer.
Photographer: Al Drago/BloombergThis article is for subscribers only.
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The fed funds rate is unlikely to be cut in March when the Federal Reserve’s monetary policy decision makers hold their next meeting. We can say that with some clarity because Chair Jerome Powell voiced it in as many words, saying that it was “not the most likely case or the base case.” The official Federal Open Market Committee statement erased language it had used previously that it held a bias toward more hikes, but that had been universally expected. Such clear guidance for March had not been, and it had an impact.