SUMMARY OF FED PRESS CONFERENCE (11/7/24):
1. Labor market is not a source of inflation pressure
2. Core inflation remains elevated in recent data
3. Possible that any administration or Congress could have an โeffect that mattersโ
4. Recent bond moves are reflecting growth expectations
5. Election has no impact on Fed policy in near term
6. โHave gained confidenceโ that inflation is heading to 2%
We are seeing little to no surprise in todayโs Fed decision.