Wall Street’s New Fed Whisperer is a Betting Market

Disruption Banking
Wall Street’s New Fed Whisperer is a Betting Market

On July 29th, the Fed’s Federal Open Market Committee (FOMC) voted to maintain interest rates steady at 3.50 to 3.75% on a 9-3 vote, with regional bank presidents Hammack, Kashkari and Logan dissenting in favor of a hike. Despite the dissent, Chairman Kevin Warsh pointedly gave no explicit forward guidance, forcing traders to look elsewhere

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