No Good Options for Judgment Day at the Fed
Just how bad is it after all this turbulence? The extreme fluctuation of fed funds futures is on par with 9/11, the Global Financial Crisis, and the arrival of Covid.
Queue outside Bolivia’s central bank as a foreign currency crisis dries up the supply of US dollars.
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The day has finally arrived. Federal Reserve policymakers are convened in Washington to discuss their future monetary tightening path — after a campaign that is already the most aggressive in decades. In the face of a banking crisis on both sides of the Atlantic, an inflation print that remains elevated and global recession risks that have increased in probability, what will Jerome Powell and his colleagues do?