You Can't Infer From Rates A Hassett Fed Would Be Independent

Authored by Simon White, Bloomberg macro strategist,

The Federal Reserve’s expected terminal rate is notably below a market-traded estimate for where the neutral rate is, which is likely to prove to be inflationary if realized.

The Fed cut rates as expected, but focus is already shifting to what a Hassett-led institution would look like, if the current director of the National Economic Council gets the job.