That's 250 bps in hikes, total. The market is pricing in a 3% terminal rate in the middle of next year, so it's roughly in line with that.
- Future developments may cause me to alter this assessment
- Will learn more through the year and will be prepared to adjust as needed
- Repeats call for 'timely' rate hikes with 'cautious, humble and nimble' approach
There's nothing new here from Evans. His comments today wrap up this week's scheduled Fedspeak. The market is pricing in a 73% chance of 50 bps at the May 4 meeting.
