Fed members push back against bets that hiking cycle is done; Powell eyed
Investing.com -- Federal Reserve members on Tuesday downplayed expectations that era of rate hikes has ended, setting the stage for Fed chairman Jerome Powell to potentially deliver a hawkish push back against the recent easing in financial conditions.Federal Reserve Governor Michelle Bowman was among a slew of Fed members on Tuesday to remind market participants that bets on the Fed not lifting rates again were premature.
"Powell was dovish – downplaying recent strong U.S. data. This suggests that the bar for further hikes is quite high – and thus it is likely the end of the rate hikes, in our view," Nomura said in a note, ahead of remarks from the Fed chairman on Wednesday and Thursday. If higher Treasury yields are mostly tied to expectations of what the Fed will do next, then this isn't likely to filter into the Fed's thinking on future policy.
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