The first quarter of 2023 should be quite different to the following three quarters. As we start the new year, the Federal Reserve will still be in hiking mode. The pace of hikes will have slowed and the peak for the funds rate will be edging closer. But that peak will not be in place at least until we get through the 1 February Federal Open Market Committee (FOMC) meeting. After that meeting, the funds rate ceiling should be at 5%, and that should be it for the hikes. However, we won’t know for sure until we get through the 22 March FOMC meeting. A pass here would officially bring the rate-hiking process to an end, ... (full story)