As mentioned yesterday in our FOMC preview, we wrote our piece before the Wall Street Journal ‘leak’ on the Fed jettisoning the guidance for the May meeting and going for a 75bps hike instead of a 50bps hike. We thought that the July meeting would be the first opportune moment, but clearly, we were wrong. Then again, when you see big banks suddenly ‘predicting’ a 75bps hike after the Journal story, they’re not predicting anything. They’re just taking their cue from Chair Powell or whoever whispers in the WSJ’s journo’s ear.


For the full report, click here