Morgan Stanley say they expect the final Federal Open Market Committee (FOMC) rate hike of this cycle at the Mayt meeting.

  • driven by another strong payroll print and sticky inflation
  • Needless to say, a surge in bank funding pressures could alter that view

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The latest Fed balance sheet highlights are here, not indicating a surge in funding pressure as yet:

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Fed Funds:

fed funds 24 March 2023