Federal Reserve - 2023-06-13
Date:
Wednesday, June 14, 2023
Summary:
We wondered how this dovish "skip" would get reflected in the dots. The answer: the worst possible way. While marking down the expected unemployment rate, the FOMC marked up the 2023 year-end funds rate from 5-1/8 to 5-5/8, with CPI falling and PPI collapsing. Doesn't get worse than this craziness. No, wait. Powell hasn't started talking yet.