Hincks: FOMC's Economic Projections More Important than Today's Rate Cut

Federal Reserve Insights - The Federal Reserve is expected to raise interest rates by 25 basis points, but the focus will be on the summary of economic projections, including GDP growth, unemployment, inflation, and PCE [1][2] - Jerome Powell will discuss the current economic outlook and the Summary of Economic Projections (SEP), which will provide critical insights for the market [2][3] - There is speculation about dissenting opinions within the Fed regarding the rate decision, with some members potentially advocating for a larger cut of 50 basis points [3][4] Trade Talks and International Relations - President Trump's visit to the UK is marked by significant ceremonial events, raising questions about potential new trade deals between the US and the UK [5][6] - Major companies like Microsoft, Nvidia, Alphabet, and OpenAI have announced investments in the UK, indicating a focus on international business relations [8] Housing Market Data - Recent mortgage applications show a decrease in the 30-year mortgage rate from 6.49% to 6.39%, leading to a 2.9% increase in purchases and a substantial 24.4% rise in refinances [10][11] - Housing starts and permits are below expectations, with housing starts at 1.307 million, down from over 1.4 million last month, and permits at 1.31 million, also lower than anticipated [12][13]