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Fed: Not hawkish enough?
Russian/Ukraine risk faded midweek on a Financial Times report that a possible path to peace has been found. However, time will tell whether real progress has been made as initial enthusiasm for the report dropped off. The risk was further supported on Wednesday by the China State Council who promised to keep stock markets stable which should support Chinese shares from here. The main event of the week was the FOMC and they hiked rates as expected and projected 7 more 25bps rate hike this year. The Fed signalled that the risk of surging inflation was one they are prepared to take head on as the Fed embark on one of ... (full story)
