Mid-week market update: Happy Price Stability Day to you!
Ahead of the FOMC meeting, I had been pounding the table that market expectations were unrealistically hawkish. The market was discounting strong rate hikes well beyond the Fed's stated median neutral rate of 2.4%, according to the March Summary of Economic Projections.
The full post can be found here.
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FOMC reaction: I told you so
May 04, 2022 at 16:14 PM EDT