FOMC nothing to see hereFOMC has raised interest rates for 9 times in a row. The next Fed interest rate decision will be publicly announced on Wednesday 5/3/23 at 2pm. The market consensus is expecting FOMC to raise interest rates for the 10th time in a row.
FOMC rate hikes:
3/16/22 +0.25% = 0.50%
5/4/22 +0.50% = 1.00%
6/15/22 +0.75% = 1.75%
7/27/22 +0.75% = 2.50%
9/21/22 +0.75% = 3.25%
11/2/22 +0.75% = 4.00%
12/14/22 +0.50% = 4.50%
2/1/23 +0.25% = 4.75%
3/22/23 +0.25% = 5.00%
5/3/23 +0.25% = 5.25%
The collapses of First Republic Bank, Silicon Valley Bank and Signature Bank were the second, third and fourth largest bank failures in the history of the United States. The collapse of Washington Mutual during the 2007โ2008 financial crisis was the largest.
On July 6th 2022, the 2s / 10s yield curve inverted, and it has widened its gap since then. An inversion of the 2-year, 10-year part of the curve is viewed by many as a reliable signal that a recession is likely to follow in one to two years.