Fed's two rate hikes don't faze markets

clock • 3 min read
Andrew Harmstone of Morgan Stanley Investment Management
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Andrew Harmstone of Morgan Stanley Investment Management

This month the Fed surprised by moving its dot plot for 2023 to include two rate hikes - a hawkish divergence from the one rate hike that markets were expecting would be signalled.

This moves forward the timeframe for interest rates to rise, as inflation expectations increase for this year. However, the real surprise was that investors did not react more strongly; while markets...

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