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Past Release · FOMC

March 2025 FOMC Report

Saturday, March 1, 2025

FOMC printed at 4.33%, a +0.00% move from the prior reading of 4.33%.

Headline Reading
Federal Funds Rate
4.33%
Mar 1
Prior
4.33%
Absolute
+0.00%
Percent
+0.00%

What to Watch For

  • Rate decision itself, cut, hike, or hold
  • Statement language changes (word-level diff)
  • Dot plot (SEP meetings only) vs prior
  • Dissents, direction and count
  • Powell press conference tone
  • Balance sheet (QT) pace changes
  • Economic projections vs consensus

Expected Market Reaction

Hawkish surprise: 2Y yields spike, curve flattens, dollar up, equities down, gold down. Dovish surprise: 2Y yields drop, curve steepens (bull steepener), dollar down, equities rip, gold up. Statement and presser can reverse each other, full reaction often takes 60-90 minutes to settle.

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