The Fed: Hiking up a hill of uncertainty
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The Fed's Playbook Has Changed So Far This Year
When we printed our first quarter guide to the markets on new year's day, market expectations for the federal funds rate by the end of this year were at zero point nine %. As of to day after the september f m s meeting, a markes now expecting the fed to have to lift rate 17 times this year. The big reason is because inflation has continued to run well above the fed's two % target. And many market participants believed that the fed was already behind the curve coming into the year and trying to curve tail inflation.
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