Last Friday, the US CPI and Core CPI Data printed worse than expected. Since then, the market has tanked for 4 consecutive days in anticipation of higher rate hike and recession fear.
The Fed had no choice but to hike the Federal Funds Rate by 75 bp this morning. The market cheers the decision by a strong relief rebound. But by raising interest rates 75bp to 1.75%, the Fed is hinting us that they are willing to risk recession for inflation.
๐๐๐ซ๐โ๐ฌ ๐๐จ๐ฉ ๐๐ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ ๐๐ซ๐จ๐ฆ ๐๐ฎ๐ง๐ ๐๐๐๐ ๐ ๐๐๐:
1. Fed Hikes 75bp, Biggest Move Since 1994
2. Next FOMC Meeting Could be Another 50bp or 75bp Hike
3. One Dissent for Smaller 50bp Hike (George)
4. Interest Rate Forecast Raised to 3.4% from 1.9% = Rate hikes at every meeting
5. 2022 Inflation Forecast Raised to 5.2% from 3.4%
6. 2022 Growth Forecast Lowered to 1.7% from 2.8%
7. 2022 Unemployment Rate Forecast Raised to 3.7% from 3.5%
8. Projections Show Rate Cuts Begin 2024
9. Fed Doesnโt Know How Restrictive Policy Needs to Be
10. Powell Expects Soft Landing Because Spending & Labor Market are Strong
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