Clarida vs. Brainard and the Battle for FAIT
One of the more interesting charts in macro right now is that going into today, EDZ2 traded higher than it did pre the June FOMC meeting and the famous dots. Since the Fed told the market that recent CPI prints have made them uncomfortable and added 2 hikes from 0 to their 2023 to their forecast, red Eurodollars (1y1y) trade richer than they did beforeh…