The FOMC meeting minutes provided additional information about the Committee's decision to hike rates by 25 bps in February. Economists at TD Securities look for a 5.25% terminal rate at the May meeting.
Fed is likely to keep policy restrictive for longer
“The minutes signaled that the FOMC is not done yet in terms of further rate hikes, and it is looking to maintain a restrictive policy stance for the foreseeable future.”
“We expect 25 bps rate hikes in March and May, with the Fed settling on a terminal Fed funds target rate range of 5.00%-5.25% by May. However, we do note a sizable upside risk to our terminal rate projection, where strength in upcoming releases on CPI and PCE inflation, as well as the labor market, could very well sway Fed to continue to hike beyond the May meeting.”
“We continue to like owning 10y Treasuries as the Fed is likely to keep policy restrictive for longer, resulting in weak growth later this year and in 2024.”
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發