For me, the latest FOMC minutes show that they will not likely be lowering the rates in 2023.
At the same time, they are monitoring inflation closely. The fed has been slow in combating inflation by the time they started rising rates, inflation has started to run ahead.
They will be watching employment figures closely. is a fine balancing act. Unless employment figures, dip, the fed will not be convinced that inflation is under control.
Another thing to note is that with China opening upand once the opening stabilized, inflation and costs like oil is going up. So consequently, inflation may stayed elevated. So dont Expect rates to go down in 2023.
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