Weekly Commentary: Playing With Fire
April 10, 2022 at 09:49 AM EDT
Rate markets are now pricing in a 2.54% Fed funds rate by the FOMC’s Dec. 14, meeting. This is up from 33 bps in October, 82 bps to begin 2022, and 1.30% on March 1. Seems the stock market took this ratcheting up of tightening expectations in stride.