- Convinced that markets have priced the terminal rate right
- 50 bps is likely in February and in March
That's an interesting remark on the terminal rate as markets did adjust their pricing to being around 3.3% now after the hawkish tilt from yesterday. That would fit with two more moves in Q1 next year and then one final 25 bps after in Q2, so is that what he is confirming?
