MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Williams On Definitely Needing Rates of 3-3.5% This Year

FED
  • Speaking for the first time since the Jun 14-15 FOMC on a CNBC interview, NY Fed’s Williams adds to similar commentary from other FOMC members in seeing a 50 or 75bp hike up for debate at the July meeting.
  • He sees there being “definitely need to get rates to 3-3.5% this year” and “hiking to somewhat restrictive rates in 2023”.
  • That range covers current market pricing with FOMC-dated Fed Funds futures pricing an implied rate of 3.26% for the Nov meeting and 3.46% for Dec, on the way to peaking at 3.62% at the Mar’23 meeting before 35bps of cuts to end-2023.
  • He sees the economy as strong, forecasting GDP growth of 1-1.5% in 2022 with recession not a base case, with slowing in rate-sensitive sectors like housing.
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

To read the full story

Close

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.