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Powell did the right thing/More earnings comments/Other

Powell did the right thing/More earnings comments/Other

Peter Boockvar
Jul 27, 2023
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Whether the Fed raises rates again in September or not, Jay Powell did the right thing in being noncommittal as he has 8 weeks of data to review between now and then. With the new effective fed funds rate at 5.33% and the November fed funds futures contract at 5.43%, that implies a 40% chance we get one more hike. 

As for the private sector, the prime ra…

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