A very, very brief summary, cutting through all the noise though:

  • Quantitative tightening (QT - or balance sheet reduction) started June 1
  • the Federal Open Market Committee (FOMC) will hike by 50bps at the June meeting
  • the FOMC will then follow up with a 50bp hike at the July meeting
  • Federal Reserve Chair Powell will speak at Jackson Hole in August (Kansas City Fed’s annual symposium at Jackson Hole is scheduled for August 25-27) where he may signal the next move
  • Up for grabs, the current debate, is for a September pause, or hike (25 or 50bps)
Powell moses