FOMC

A CPI pre-read, wherein we argue the Fed should be calibrating its tightening efforts to what current conditions are indicating.

At tomorrow's FOMC meeting, the Fed will almost certainly hike 25 basis points. With that hike comes the full conclusion of the Fed's ambitious yet sometimes opaque "maximum employment" forward guidance. A hike in March is a clear declaration that the Fed believes the

To understand how the Fed is interpreting its “maximum employment” mandate in the current context, it’s worth going through Chair Powell’s remarks and Q&A for the December FOMC meeting.