Release The Hawks!
Dot plot comments in the preview:
That ratio might flip so that the median member sees rate hikes by the end of 2023 (10+ members).
After the last meeting rates markets a 'priced' a 100% chance of a rate hike in 2022.
Markets now see a lower chance of a hike in 2022 than they did in April.
That ratio did flip (and a bit more with the 2022 dots)...
Markets are back to pricing that 2022 hike at 100% and there's no doubt that this meeting was a shock to many.
(Not me though, I saw it
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