Fed Unfiltered, Weekly Report: Monday Morning Reset (1/23/23)
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Quick Overview
A near consensus on the terminal rate (currently 5.10%, December’s SEP). About every Fed official who spoke last week mentioned going above 5.00%. The next question is how quickly do we get there? Bullard favors a 50bps hike, most however favor a 25bps hike.
Regarding a recession, Bullard and Waller say the chances of avoiding one, “have improved markedly”.
A report from the Cleveland Fed discusses how inflation could be dealt with faster if a recession occurred.