Daily Archives: January 5, 2023

Fed Pivot Watch: 5 January 2023

The Federal Reserve appears to be approaching the end of its rate-hiking policy, based on estimates from the bond market and economic conditions. But there’s a wild card that could derail the forecast: inflation stays elevated for longer than currently expected.

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Macro Briefing: 5 January 2023

* No speaker elected in House after second day
* Until a speaker is elected, normal House governing activity isn’t functioning
* Inflation has not “turned the corner yet,” says IMF official
* Amazon will layoff 18,000 workers, biggest cut in tech recently
* China economy continues contract, mildly, in December via PMI survey data
* China accused of “under-representing” severity of its Covid outbreak, says WHO
* US job openings remain high in November, highlighting tight labor market
* Fed officials expect higher rates for ‘some time’, according to minutes
* US ISM Mfg Index falls again in December, marking second month of contraction:

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