- There will be another rate hike in December
- The scale of it should continue to make progress towards the levels needed
- But platform for considering a very large hike, such as 75 bps, is no longer there
- The more you've already done on a cumulative basis, that changes the pros and cons of any given increment
That's quite a dovish endorsement and will just add to the dollar recovery sentiment we are seeing today, considering that the Fed remains arguably the most hawkish central bank in town still for the time being.
