Picture
Contatti
Picture

The Fed remains hawkish despite slowing down tightening

In breve

The unsurprising shift to a slower pace of tightening was the only dovish piece of news coming from the last Fed meeting of the year. FOMC members show a strong agreement on the need to raise rates further; the increase in the projected peak rate with respect to September, already anticipated, was stronger than what many (including us) expected.

Highlights:

  • The telegraphed 50 bps rise was followed by a strong and almost unanimous commitment to keep tightening. The FOMC projects a further 75bps tightening in 2023, to 5% to 5.25% peak (a 50-bps increase from what signalled in September), and plans cuts only the following year.
  • Yet the FOMC thinks that a “softish” landing is still possible. Growth projections for 2023 were scaled down, but the increase in expected unemployment is marginal. Inflation should end next year at 3.1% and go back to target only after 2025.
  • The Fed once again disappointed market’s hopes of a softening of its stance and the S&P lost 
    nearly 1% on the announcement.
     

Download the full publication below

The Fed remains hawkish despite slowing down tightening
Competenze
Investimenti Responsabili
Insights
Chi Siamo
Contatti
Picture
Picture

© Generali Investments, tutti i diritti riservati. Questo sito web è fornito da Generali Investments ed è considerato come una comunicazione di marketing e una promozione finanziaria riferita ai prodotti e servizi delle società elencate di seguito, appartenenti al Gruppo Generali: Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. e Generali Investments Holding S.p.A. (nel prosieguo, congiuntamente indicate come Generali Investments). Inoltre, il sito può contenere comunicazioni di marketing e promozioni finanziarie di prodotti e servizi di società appartenenti alla piattaforma coordinata da Generali Investments Partners S.p.A. Società di gestione del risparmio, nello specifico di Generali Global Infrastructure, Sycomore Asset Management, Aperture Investors LLC., Plenisfer Investments SGR, Lumyna Investments e Generali Real Estate S.p.A. Società di Gestione del Risparmio

Note Legali
Informativa Sui Cookie
Informativa Sulla Privacy
Termini e Condizioni
Copyright
Glossario