Opinion
The Fed is becoming less fussed about high inflation
The market continues to be wrong-footed on US interest rates. The question is whether the Fed Reserve has shifted its focus to supporting growth over fighting inflation.
Sebastian MullinsThe market has been continually wrong-footed on rates since the US Federal Reserve started its interest rate raising cycle.
At the end of 2021, the market knew the Fed would have to move away from ultra-accommodative monetary policy, but no one had a cash rate over 5 per cent in their projections.
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