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Fed Rates Firm On Williams R-Star Comments

STIR
  • FOMC-dated OIS firms with Williams (voter) saying its possible r* could rise again in Q&A even if tempered by not saying how the new r* model will impact mon pol.
  • Being a longer term concept, impact comes on meetings later in the year, with the Dec’23 rate now 3.5bps higher since before the comments and now showing 38bp of cuts from the current effective 5.08%, or 46bp of cuts from the implied peak.
  • [RTRS] - FED'S WILLIAMS: ITS POSSIBLE R-STAR ESTIMATE COULD RISE AGAIN
  • [RTRS] - FED'S WILLIAMS: WON'T SAY HOW NEW R-STAR MODEL WILL IMPACT MONETARY POLICY

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