By Simon Flint, Bloomberg Markets Live strategist and reporter
Since Donald Trump’s surprise victory, the Federal Reserve has adopted a slightly more hawkish hue. Today’s Summary of Economic Projections could reinforce this tilt, although I suspect that Powell will balk at showing only a single cut for 2025.
Meanwhile, the long-run neutral rate will likely inch higher, and the latest University of Michigan survey has produced a whopper: the highest long-term inflation expectations since 1993. If there were ever a survey that forces its way into a Fed statement, this would be it.
