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You may be experiencing some déjà vu. But for the Fed, 2024 is very different from 2016. 

While our president-elect and his ambitious economic plans (tax cuts, tariffs, stricter immigration policies) are the same today as they were eight years ago, the economy is in a vastly different place. Last week’s election results may have come too late for committee members to consider them in their interest rate decision, but there is still one more meeting before the end of the year. 

Back in December 2016 (roughly six weeks after Donald Trump was elected for his first term), the FOMC,…

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