January 09, 2023 20:37 GMT
Fed Rate Path Drifts Lower Ahead Of Powell
- Fed Funds implied hikes edge lower through the session, pricing a 31bp hike for the Feb 1 FOMC (-1bp), cumulative 50bp for March (-2bp) and 60bp to a terminal 4.94% in June (-1.5bp).
- It’s despite appearances from ’24 voters Bostic and Daly warning about declaring victory on inflation prematurely, with data dependency seeing both acknowledge the February decision is likely between a 25bp or 50bp hike.
- There is potential to hear more on the matter from Powell’s panel at 0900ET tomorrow, all with an eye on CPI on Thursday.