UBS on pushback against speculation of a March 2024 FOMC rate cut by senior Fed official

<p>On Friday Federal Reserve Bank of New York President John Williams provided some push back against the speculation of a March rate cut from the Federal Open Market Committee (FOMC):</p><ul><li><a href="https://www.forexlive.com/centralbank/feds-williams-if-we-get-the-progress-im-hoping-to-see-it-will-be-natural-to-cut-20231215/" target="_blank" rel="follow">It's premature to be even thinking about March cuts</a></li></ul><p>As head of the NY Fed Williams is vice chair of the Federal Open Market Committee (FOMC) and has a permanent vote on the Committee. So when he comments about what the FOMC might or might not do, its worth paying attention to his remarks. </p><p>UBS argue similarly:</p><ul><li>Federal Reserve Chair Powell sparked an “everything” rally last week. This prompted the others on the FOMC to dampen the more extreme speculation. New York Fed President Williams … suggested a March cut was not feasible. </li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.