Business
The Fed and markets use different crystal balls for the economy – Sydney Morning Herald
The US central bank has left interest rates unchanged despite showing increased optimism about the outlook for the world’s largest economy.
Where the Fed sees December-quarter growth this year running at 6.5 per cent above the same quarter of last year, there are market forecasts that have a 7, or even an 8, ahead of them.
Where the Fed majority expects rates to remain unchanged until at least 2024, the markets are pricing in an increase in the federal funds rate in the first quarter of 2023.
Market economists are still more bullish about Americas economic prospects and are pricing in a more aggressive response from the Fed than the…
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