There Are No Doves Left At The Federal Reserve | Nick Timiraos
Forward Guidance
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The Phase One of the Fed's Tightening Cycle
I don't think they know. I'm not sure anybody can have a huge amount of confidence where the terminal rate is. If you're actually looking for monthly deceleration in the inflation prints, which is what someone like Governor Chris Waller has said he wants to see, you know, point two to point three. So we'll see. Maybe that's another reason to sort of fuzz up forward guidance here. And if they spend more time reviewing their framework from 1920 then things could get even worse. The real questions are going to arise as you start to see more slowdown in growth numbers.
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