Hawkish Fed with higher rates for longer
The Fed surprised many with a hawkish outlook for rates in 2023. NAB’s Gavin Friend says the FOMC is concerned about continued tightness in the labour market, even as inflation starts to ease.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Thursday 15th December 2022
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
Markets weren’t surprised by the FOMC raising rates by 50 basis points this morning – a unanimous decision by the board. But members are more divided on where to go next, with the Fed now predicting a median rate of 5.1 percent by the end of next year, even with talk of inflation having peaked. NAB’s Gavin Friend says this rise in the dot plot is based on continued labour market tightness. It could be a different picture for the Bank of England later today, and the ECB where wage inflation is not such a concern. In a feverishly busy day we also get Australian employment numbers, NZ GDP, China’s retail sales, industrial production and capex investment, and the Philly Fed’s business outlook. It’s the last gasp before Christmas!
Hosted on Acast. See acast.com/privacy for more information.