Bilal’s Macroscope: Does the Market Ever Get the Fed Right?
- By Bilal Hafeez
- 3 min read
At the start of 2022, the rates market expected the Fed policy rate to end the year at 1%. It turned out to be 4.5% – one of the biggest market errors in decades (Chart 1).
At the start of 2022, the rates market expected the Fed policy rate to end the year at 1%. It turned out to be 4.5% – one of the biggest market errors in decades (Chart 1).
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