The upcoming Federal Open Market Committee meeting is December 14-15.
Westpac snippet preview:
- Given recent FOMC commentary, the December 14-15 meeting is expected to see significant change in the Committee's approach to policy.
- At that meeting, Westpac now expects the taper to be accelerated to conclude in March 2022, making room for three 25bp rate hikes at the June, September and December 2022 meetings.
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The December meeting looks set to provide a bit more clarity on the Fed's path ahead. As for tomorrow, Tuesday US time, Fed Chair Powell appears before the US Congress' Senate Banking Committee hybrid hearing on "CARES Act Oversight of Treasury and the Federal Reserve: Building a Resilient Economy."
Fed Chair Powell
