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The Fed funds futures market is betting against the economy
Normally you would expect at least a few days of the market at least humoring Federal Reserve forecasts but not this time around.
The Fed came out and forecast year-end 2023 rates at 5.00-5.50% with just 2 of 19 forecasters below that. Yet the Fed fund futures market is pricing in a peak of just 4.89% and a year end level of 4.41%. That's an 80 basis point difference.
That reflects a total lack of confidence in Fed forecasts.
The WSJ's Nick Timiraos interviewed Lee Ferridge,... Read More
Posted: Dec 15 2022, 20:24
Author Name: forexlive
Views: 110724
