One more note:
I believe gradualism is almost required in Fed tightening cycles in the present environment — a lot more lending, financing, and derivatives trading gears off of short rates like three - month LIBOR, which correlates tightly with fed funds.
One more note:
I believe gradualism is almost required in Fed tightening cycles in the present environment — a lot more lending, financing, and derivatives trading gears off of short rates like three - month LIBOR, which correlates tightly with fed funds.