• It’s an intense moment, there is a lot hanging in the balance
• I dissented last year because we didn’t not have the data that inflation was going away
• This definitely throws a wrench into plans to cut rates

The Fed funds futures market is pricing in about a 30% chance of a rate hike this year.

Miran also speaking:

• POlicy outlook remains for rate cuts
• Pulled back his dots to pencil in four cuts
• Job market is continuing gradual softening trend
• It would be highly unusual for the Fed to react to the oil shock now
• Still not enough clarity to know mon pol should react to current events

This article was written by Adam Button at investinglive.com.



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