Rabo: 75, 75, 50, 50, 50, And Then A Recession
By Philip Marey of Rabobank
After leaking to the press earlier this week, today’s FOMC’s decision to raise the target range for the federal funds rate by 75 bps came as no surprise.
At the press conference, Powell said he did not expect 75 bps to be common, but he also said that a 50 to 75 bps move was most likely at the next meeting.
Powell said that the Committee expected the federal funds rate to be at a...