The Fed's Tightening Impact on Financial Conditions

The notion that financial conditions remain easier than one might have otherwise assumed is very topical and would be an inter in discussion point at jackson hall. We're seeing them ease even as the f o m c gets ready to deliver another 50 or 75 basis point hike, all else equal. It's difficult to know how the fed will come down on the topic, because, if nothing else, it implies a higher terminal rate.