Dec 14, 2022
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5 min read
FOMC: A Narrower Runway
The FOMC hiked 50bps as expected and tried to guide markets to expect higher rates for longer throughout 2023. The median "dot" in their 2023 projections for the Fed Funds target at year-end was up to 5 1/8%, 50bps higher than the last projections in September. Powell offered a hawkish tone.