February 24, 2023 11:20 GMT
Fed Rate Path Near Unchanged Ahead Of Plentiful Fedspeak
STIR FUTURES
- Fed Funds implied hikes sit little changed from yesterday’s close having marginally pulled back off recent highs.
- 29.5bp for Mar (-0.5bp), cumulative 56bp for May, 77bp to 5.35% (+0.5bp) terminal in Jul before just 17bps of cuts to 5.18% in Dec (+1bp).
- Fedspeak, in voting order: Governors Jefferson and Waller, ’24 voter Mester (chance of ’23 if Goolsbee gets VC nod) and non-voters Bullard and Collins. Only Bullard and Mester have spoken since the Jan CPI on Feb 14, with Jefferson most interest having last spoken mid-Nov (and limited on growth inclusivity) plus Collins last on Jan 19.
Source: Bloomberg
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