Central Bank Watch
Comment on FOMC Statement and Powell’s Press Conference
November 2, 2022
The opening two paragraphs describing U.S. growth and inflation, the impact of Russia war on such, and the prioritization of the Fed’s two mandates are unrevised. Paragraph 3 confirms that the federal funds rate target range is indeed rising 75 basis points to 3.75-4.0% in line with earlier rhetorical guidance. The committee agreed also to […] More
Central Bank Watch
FOMC Preview
November 2, 2022
The federal funds rate target was raised by three full percentage points in the span of a just a half year. Another hike of 75 basis points is widely expected today, yet the 10-year Treasury yield of 4.03% is only 184 basis points above the level when the first rate hike was engineered last March […] More
New Overnight Developments Abroad - Daily Update
Marking Time Ahead of Powell’s Press Conference and Amid Whiffs of Possible Change
November 2, 2022
Another 75-basis point Federal Reserve interest rate hike appears highly likely today and is discounted in the marketplace. Investors are focused on how monetary policy will evolve afterward, as hints of smaller increases from December have been floated. The Fed announcement arrives at 18:00 GMT, but a macroeconomic forecast update isn’t scheduled until next month’s […] More
