MBCC TH 20th Mar'24 - "What did Powell say, and why are markets rallying? What is Gold/Silver suggesting?"

So the Fed upgraded their GDP forecast as they now expect 2.1% growth vs 1.4% in December due to higher inflation.

Unemployment rate expected to end 2024 at 4.0% vs 4.1%

PCE inflation unchanged at 2.4%, same as Dec

BUT Core PCE inflation expected to end year at 2.6% vs 2.4% in December Fed also expects one less rate cut in 2025 (3.9% vs 3.6% in Dec) and 2026 (3.1% vs 3.19% in Dec)

Between the algos and passive money noise, what is the trade here?