September 29, 2022 17:33 GMT
- Fed Funds implied hikes have cooled in recent hours to 67bps for the Nov 2 FOMC whilst rates for meetings further out also roll over but continue a recovery on the day at 4.22% for Dec'22, 4.50% terminal for Mar'23 and 4.25% for Dec'23.
- Cleveland Fed's Mester ('22 voter) elaborates from her earlier CNBC appearance that she sees a rates a "little bit above" than the median rate path, i.e. most likely one of the six dots pencilling in 4.75-5% for 2023 vs the median 4.6%.
- Bloomberg headlines:
*MESTER: SEES INFLATION AS MORE PERSISTENT THAN MEDIAN IN SEP
*MESTER: `HAVE TO MAKE SURE WE DO ENOUGH' TO CONTROL INFLATION
*MESTER: RISKS ARE CHANGING AS WE GET THE FUNDS RATE UP
*MESTER SAYS RECESSION WON'T STOP FED FROM RAISING RATES
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