The pace of tightening currently priced in by the market is very moderate compared with the experience in
past tightening cycles.
Not exact matches
That would be a relatively low level by historical standards; in the
past two
tightening cycles by the Fed, the federal funds rate peaked at around 6 per cent.
Note, however, that in each of the
past three Fed
tightening cycles, stable value fund returns continued to outpace money market fund returns.
In the
past, the greater the easing
cycle, the harder the
tightening cycle.