Fed hiked rates by 50bps as expected but signaled, through its projections, that it will hike rates higher than the market expects and hold those rates higher for longer. Furthermore, the projections for economic growth, employment, and inflation all suggest The Fed expects a recession.
Fed rate expectations are notably more hawkish than the market's...
Since the November 2nd (dovish) FOMC statement and (hawkish) press conference chaos, gold and bonds have dramatically outperformed, stock have rallied as the dollar and crypto tumbled...
