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MNI FED PREVIEW - DECEMBER 2022: Forecasting The End


The FOMC will step down the pace of rate hikes to 50bp at the December meeting.

  • But it will likely signal via the Dot Plot that it intends to tighten by a further 75bp to a terminal rate above 5% in 2023.
  • Chair Powell’s Nov 30 speech has recession-minded market participants eyeing substantial rate cuts in 2023-24.
  • This offers scope for Powell to push back against easier financial conditions at the post-meeting press conference.
  • PDF link here - email to be circulated to subscribers shortly.

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