Comparing CME implied Fed funds for the March 22 and May 3 meetings shows a downshift, which seems attributable to developments surrounding SVB (SIVB).
(Click on image to enlarge)
Figure 1: Effective Fed funds (black), CME futures implied as of 3/13 12:20CT (red square), as of 3/10 (pink square). Source: CME Fedwatch, accessed 3/13.
More By This Author:
Looking Backward To The “Recession Of 2022H1” And Forward To The Recession Of 2023Business Cycle Indicators And The Employment Release
The Administration’s GDP Forecast
Comments
Log in or sign up to join the conversation.