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Atlanta Fed President Pours Gasoline On Fire With 50bps Hike Comment, But There Are Reasons To Ignore It
Here we go again. After we saw a veritable rollercoaster in market last week, after Powell's shockingly hawkish FOMC presser which spooked Wall Street into predicting that 5 (as JPM and Goldman now expect), six or even seven rate hikes (as per the latest Bank of America forecast) are on deck in 2022 alone, tensions have also remained elevated after Powell refused to refute speculation of a 50bps rate hike this year. Of course, tensions eased on Friday after the latest set of dismal economic data, which led the Atlanta Fed to come out with a 0.1% Q1 GDP estimate which will turn negative in the coming days after just a ... (full story)