MACRO
Fed's No-Rate-Cut Mantra Rejected by Markets Seeing Recession
Money markets are pricing a rate peak around 4.9%, followed by nearly half a percentage point of rate cuts by the end of 2023. That's despite multiple officials in recent days delivering a sharply contrasting message: Rates are heading above 5% and will stay there all year.
Fed's Collins Leans Toward Downshifting to Quarter-Point Hike
"I think 25 or...