Weekly Market Recap – May 1, 2023

At the March meeting, 17 out of 18 FOMC participants believed the federal funds rate needs to be 25bps higher at
the end of 2023 than its current target range of 4.75% to 5.00%. Going into this week’s meeting, the question is
whether enough has changed over the last six weeks to convince a sufficient share of voting members to change
their mind.

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