Rate Rise
07/26/2023 |
To the surprise of no one, the Fed raised the Fed funds rate 25bps to the highest rate in 25 years. As for future hikes, the Fed has retained complete optionality. Chair Powell said they might raise rates at the next meeting, or the one after that, or maybe not. Had it been otherwise financial conditions would have quickly eased making the Fed’s job harder. I suspect they’re done hiking.