The Fed's Voting Members for 2023

CNN's John Defterios looks at the incoming members of the FOMC for 2023. He says some are more Dovish than others, but there is also a strong hawkish side to this group. The Fed will meet on January 25-26 and could raise interest rates as high as 4.75% next year.

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With the February Fed meeting rapidly approaching, Jack Farley welcomes Colby Smith, U.S. economics editor for the Financial Times (FT), to share her expectations for the February meeting, and her insights about the transmission of the Fed’s policy to the market and the public. She argues that the disconnect between the rate cuts being priced into the interest rate futures market and the Federal Reserve’s own forecasts will be one of the most salient issues at tomorrow’s press conference with Fed Chair Jay Powell. Smith and Farley also discuss the latest economic data, the politics of the Fed, and the looming issue of the U.S. debt ceiling.

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Timestamps:

(00:41) Expectations For The Fed's February FOMC Meeting

(09:24) Are Financial Conditions Too Loose?

(18:26) "The Fed's Threshold For Pain Is A Lot Higher"

(25:48) Forward Guidance

(30:55) Curve Ad

(32:00) Employment Costs & Other Economic Data

(37:09) Will The Fed Hike Again In May (After It Likely Hikes Again in March)?

(40:12) New Voting Members on The FOMC

(43:26) Will Powell Be In "Attack Mode" Tomorrow?

(47:49) The Fed's Balance Sheet & Quantitative Tightening (QT)

(51:14) The Debt Ceiling