MNI Fed Review - June 2022: Has The Fed Lost Control?

We've just published our June FOMC meeting review, emailed to subscribers and available on our website:

• Chair Powell acknowledged that the path to a “soft landing” has become more difficult, and potentially out of the Fed’s control.
• This makes for a more unpredictable rate outlook if economic growth deteriorates and inflation doesn’t abate.
• While ongoing hikes are still the base case going into 2023, the meeting materials suggest that cuts are already on the FOMC’s radar.