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Mester: Market Alignment Much Closer To Fed Than Before

FED
  • Mester comments to CNBC so far in line with previous (favoring getting rates somewhat above 5%, wanted 50bp last meeting and won't pre-judge next meeting size).
  • Noting that financial market alignment with Fed is much closer than before is clearly true, with the terminal touching 5.36% (0.5bp higher since remarks) before only 16bps of cuts to 5.20% year-end.
  • She's a '24 voter but technically could vote in '23 if Chicago Fed's Goolsbee, one of a list of potential nominees, gets the nod for the Vice Chair role.

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