macroVS1: Yes, they WILL raise rates
The language data shows it. SVB made it inevitable. Why it creates real challenges for the next rate setting cycle.
Welcome to macroVS Episode11, a weekly monetary policy podcast where we let data derived from central bank language provide clues regarding forward policy trajectories.
This weekend, we suggest for your consideration that the data tells us the Fed MUST raise rates modestly when they meet next week. Spoiler alert: it’s not the labor market or other traditional economic aggregates that compel this move.
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