12.19 Morgan Stanley issued a report saying that the Federal Reserve's December interest rate decision was more hawkish than the bank had originally expected. The market generally expected a decision to lower the federal funds rate target range by 25 basis points and adjust the overnight reverse repurchase transaction volume ON RRP rate to the lower limit of the funds rate target range. The forward guidance provided by the Fed through its updated Summary of Economic Projections was also more hawkish than the bank expected.
According to the committee median, only two rate cuts are germany phone number list currently expected in , two rate cuts in 2026 and one rate cut in 2027. Morgan Stanley said there was a tension between continued inflation in its forecasts and a much smaller rate cut than in previous ones. The situation would become more plausible if the Fed revised its view on inflation.
2. Apple is reportedly discussing with Tencent and ByteDance to integrate its AI features into iPhones sold in China
12.19 Apple is reportedly in discussions with Tencent and ByteDance to integrate its artificial intelligence AI into iPhones sold in mainland China. Since ChatGPT is not available in China, Apple is forced to look for local partners for its AI features. Reuters cited sources as saying the discussions were still at a very early stage.