What Fed minutes won't tell you but FRB/US model baseline (also published byFed, but quietly, after Feb 1meeting) does. 1) the staff model revised down output gap. Now it falls to negative in 3Q 2023 (recession, anyone?)
February FOMC meeting minutes:
- ‘Almost all’ members agreed on a 25bps hike
- ‘A few’ members favored raising by 50bps
- All agreed more rate hikes are needed
Crypto + equities have shrugged it off, for now!
Market is turning bearish due to the fear of High interest rate in coming months.
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