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Today’s FOMC was all about the new Fed projections — not the rate cut itself, which was already fully expected (-25 bps was a done deal). What actually mattered: • Core inflation is now projected lower → 2.1% vs 2.5% in September • Unemployment stays at the critical 4.5% / 4.4% range → same as September • Growth is revised UP → 2.3% vs 1.8% previously So the Fed is basically signalling: higher growth + lower inflation + stable unemployment. These December projections are more bullish than September’s. Until we get the next unemployment data on 16/09/2025, this backdrop continues to support the broader bullish trend on US indices.
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