to hit a range from 5-5.25% from the current level of just below 4.00% to be "sufficiently restrictive" to curb inflation.at 5% and saw Fed fund futures sell off as markets priced in more chance that rates would now top out at 5-5.25%, rather than 4.75-5.0%.
"The Fed has come back through their speeches and pushed back against the market narrative -- we are not going to see a pivot," said Arun Sai, senior multi-asset strategist at Pictet Asset Management. Sai said the market was currently "running on fumes" and would switch focus to the real economy's response to rising rates, such as anecodatal signs of slowdown in the U.S. labour market.
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