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Another Hawk In Fed's Bowman Coming Up

US
  • Fed Gov. Bowman (permanent voter) is coming up at the bottom of the hour, with prepared remarks before Q&A.
  • They’ll be her first remarks on mon pol since early March and should steer firmly hawkish after Logan’s “much too soon” to think about cutting rates earlier today.
  • We see a high likelihood that Bowman was one of the two dots who didn’t see any rate cuts this year in the March SEP.
  • Fed Funds currently price a cumulative 15bp of cuts for the June FOMC and a total 69bp of cuts for 2024.

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