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The Powell Put Won't Save Stocks | Joseph Wang
Forward Guidance
The Fed Funds Futures Market and the Eurodollar Market
In 2018, the Fed basically reiterated their percentage that we're going to high-grates in 2019. And I think at that point, the short term interest rate market was like, fine, that's what you want. So they actually began to price a little bit of that inside and then the market just couldn't handle it. Right now, the shortterm interest rate market is pricing in, I think a terminal rate that's close to what the Fed is. But if I have one thing to note is that it's possible that the terminal rate that the Fed is planning is higher than what they iterated in the past. That presents some dangers to the risk assets because then you have
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