Think the Fed will pivot next year? Think again after Japan, says biancoresearch.
) and other bulls will not benefit from a major change in United States inflation policy in 2023, one analyst says.on Dec. 20, Jim Bianco, head of institutional research firm Bianco Research, said that the Federal Reserve would not “pivot” on rate hikes next year.In light of the surprise yield curve control tweak by the Bank of Japan , analysts have become all the more bearish on the prospects for risk assets this week., the move spelled immediate pain for the U.S.
“Again, if JAPAN! is NOW hiking to changing policy NOW because of inflation, remind me why the Fed would be pivoting anytime in 2023?” part of one post read.The real tangible consequences of Japan’s decision may only be felt later, Bianco continued. With bond yields rising, Japan should attract capital back home and away from the U.S.
A return to lowering interest rates is a key eventuality being priced in by markets beyond crypto, and this is something that simply no longer pays, Binanco said. Despite BTC/USD already down nearly 80% in just over a year in tandem with the Fed’s quantitative tightening , the pain may thus still be far from over.by Fed Chair, Jerome Powell, in which he sought to steer markets away from anticipating any policy loosening.
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