1447 ET - The Federal Reserve's statement has a slightly less dovish slant with signs that its confidence in its fight against inflation is somewhat weaker, Principal Asset Management's Seema Shah says in a note. "The subtle shift in tone suggests that the Fed may have lost some confidence in the disinflationary path," the chief global strategist says. The U.S. election result is likely to exacerbate this dynamic, she says. The potential for future trade and fiscal policies to impact the growth and inflation path means that the U.S. election result may end up tormenting the Fed, Shah says. Another cut is still likely in December but the rate path is "very uncertain" beyond that, she says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 14:47 ET (19:47 GMT)
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