FOMC decision drops today at 2PM ET. Market's pricing in a 92.5% chance of a 25bps hike — basically a done deal.
Real wildcard? Warsh's press conference at 2:30PM ET.
If he signals more hikes ahead, expect markets to sell off hard. The forward guidance matters more than the hike itself right now.
Watch the language closely — "data-dependent" vs "more work to do" will set the tone for the next few weeks.
Real wildcard? Warsh's press conference at 2:30PM ET.
If he signals more hikes ahead, expect markets to sell off hard. The forward guidance matters more than the hike itself right now.
Watch the language closely — "data-dependent" vs "more work to do" will set the tone for the next few weeks.
