������ FED CUTS RATES – First Move of 2025 ��

✂️ 25 bps cut delivered – Powell & Co. shift gears as labor market cracks widen.

�� More easing ahead? Median “dot” = 75 bps cuts in 2025 (incl. today) → ~50 bps more to come.

⚖️ Pivot alert: Statement flags “downside risks to employment” – jobs now in the driver’s seat ��.


�� Key details:

1 dissent �� (Gov. Miran wanted 50 bps) → shows rising urgency on jobs risk.

Split FOMC �� → 6 see no more cuts, 9 see two more moves.

Labor data flashing red �� → NFP +22k, Unemp. 4.3%, jobless claims = 4-yr high.

Powell’s Jackson Hole ⚠️: “Downside risks to employment can materialize quickly” → now playing out.



�� Market pulse:

Yields lower ⬇️

Dollar weaker ��

Gold & Silver shining ✨

Equities under pressure �� → investors worry Fed may be behind the curve.

�� Takeaway: The Fed is no longer just watching inflation �� — it’s pivoting hard to protect jobs.

Labor risks = the new North Star ��.

Disc: https://www.kotaksecurities.com/disclaimer/commodities - Kotak Securitie