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Federal Reserve hikes another 75bp with much more still to come
The Federal Reserve met expectations and hiked rates 75bp. With inflation proving to be far stickier than imagined, the Fed repeated that activity needs to slow much more with the door left wide open for a fourth consecutive 75bp hike in November. With recession looking virtually impossible to avoid, we see a strong chance of policy reversal later in 2023. A very hawkish 75bp: The Federal Reserve has hiked the Fed funds target range to 75bp in what was a unanimous decision and upped its forecasts for rate hikes aggressively. Year-end 2022 Fed funds is now expected at 4.4%, above the 4.2% rate implied by futures ... (full story)
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From @DeItaone|Sep 21, 2022tweet at 3:10pm: POWELL: IN HOUSING MARKET, WE HAVE TO GO THROUGH A CORRECTION TO GET BACK TO NORMAL PRICE GROWTH tweet at 3:11pm: FED'S POWELL: SHELTER COSTS ARE GOING TO STAY HIGH FOR SOME TIME FED'S POWELL: ON SHELTER INFLATION, HAVE TO ASSUME IT WILL STAY PRETTY HIGH FOR A WHILE tweet at 3:12pm: FED'S POWELL: LIKELY RATES WILL GET TO LEVELS IN THE SEP FED'S POWELL: PATH THAT WE EXECUTE WILL BE ENOUGH TO RESTORE PRICE STABILITY FED'S POWELL: WE'VE WRITTEN DOWN PLAUSIBLE PATH FOR FED FUNDS RATE, AND ACTUAL PATH WILL BE ENOUGH TO BRING DOWN INFLATION
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From @financialjuice|Sep 21, 2022tweet at 2:52pm: FED'S POWELL: IN SPITE OF MODEST SUPPLY-SIDE HEALING, INFLATION HAS NOT DECREASED. tweet at 2:54pm: FED'S POWELL: IF YOU LOOK AT THIS YEAR'S INFLATION, SEE INFLATION IS RUNNING TOO HIGH FED'S POWELL: YOU DON'T NEED TO KNOW MUCH MORE THAN THAT, IS WHAT GUIDES THIS COMMITTEE tweet at 2:55pm: FED'S POWELL: I DON'T ANTICIPATE THINKING ABOUT MBS SALES IN THE FORESEEABLE FUTURE. tweet at 3:03pm: Fed's Chairman Powell: -I do not know what the odds are of a recession but we need to bring inflation down. - There is no painless solution to reduce it tweet at 3:05pm: FED'S POWELL: THINK OF PRICE STABILITY AS AN ASSET THAT DELIVERS BENEFITS TO THE PUBLIC FED'S POWELL: DELAY IN GETTING INFLATION DOWN WOULD ONLY LEAD TO MORE PAIN
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From @DeItaone|Sep 21, 2022tweet at 2:47pm: POWELL: CHANCES OF A SOFT LANDING ALSO LIKELY TO DIMINISH TO THE EXTENT THAT POLICY NEEDS TO BE MORE RESTRICTIVE OR RESTRICTIVE FOR LONGER tweet at 2:49pm: FED'S POWELL: YOU WANT REAL RATES POSITIVE ACROSS THE YIELD CURVE FED'S POWELL: YOU WOULD SEE POSITIVE REAL RATES ACROSS YIELD CURVE IF WE WERE TO FOLLOW RATE PATH IMPLIED IN DOT PLOT tweet at 2:50pm: POWELL: THERE IS A FAIRLY LARGE GROUP THAT WOULD SEE 100 BPS BY YEAR END tweet at 2:50pm: FED'S POWELL: MEDIAN POLICYMAKER SEES 125 BPS HIKES BY YEAR END tweet at 2:52pm: FED'S POWELL: CORE PCE INFLATION READINGS ARE NOT WHERE WE EXPECTED OR WANTED TO BE FED'S POWELL: STILL DISCOVERING WHAT THE LEVEL IS THAT WE NEED TO GET TO
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- Posted: Sep 21, 2022 3:34pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,628
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