Next week brings the FOMC rate decision for the month of March and there’s been some considerable commotion of late around macro-prudential risks. Rate expectations have been all over the place in response, and at this point there’s heavy expectation for another 25-basis point hike from the FOMC next Wednesday. There’s also some expectation for another 25-basis point hike at the bank’s next meeting in May (approximately 30%, as of this writing); but later in the year the outlook gets far more opaque. Going out to December of this year there is currently a 5.9% probability that rates are at the current level or ... (full story)