Capitol Macro: Today's Fed rate resolution is hawkish

Today's Fed rate resolution was hawkish, according to the assessment of Capitol Macro. ‘All things considered, we now expect the Fed to end this easing cycle earlier than before. We expect an additional 25 basis points of rate cuts at each meeting through May next year, with rates bottoming out between 3.50 per cent and 3.75 per cent, 50 basis points higher than our pre-election forecast.