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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FED
It's unlikely we'll get many more candid revelations of 2024 dots like Bostic's (see note earlier), but today we could get a sense of who's pencilling in 2 or more hikes in 2023.
- Today (1000ET) we get commentary at a panel event from Gov Bowman and Cleveland's Mester, who have been on the more hawkish end of FOMC rate opinions, and Barkin who probably sees at least one more hike (though is usually reluctant to reveal specific preferences).
- On the other end of the scale: Chicago's Goolsbee might be the other dovish "dot" alongside Bostic's seeing rates unchanged this year (he said Wednesday that June's decision to hold was a "close call").
- Other prime candidates for "no more hikes" include Philadelphia's Harker, SF's Daly, or Boston's Collins - while there are some dovish candidates on the Board (Williams, Jefferson), we'd assume that the 9 dots in the 2-hike camp for 2023 include most of the leadership (including Powell, Cook, Barr).
- Powell's congressional testimony will also be eyed, but the 2nd days of these events rarely produce market-moving commentary.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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