Fed Funds Firm on Yellen’s Testimony

Fed Funds Firm on Yellen’s Testimony

Fed funds futures rallied, in conjunction with Treasuries, on the dovish interpretation of Fed Chair Janet Yellen’s remark on adjusting policy if the inflation undershoot looks to persist (for now, the Fed still sees slowing inflation as transitory). Implied rates are now suggesting only about 44% risk for another tightening by year end, down from about 49% just ahead of the release of her written testimony at 8:30 ET. The […]

Read More ˃