RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
What can FOMC do today? - Nothing
It is not expected to do anything today and it will do nothing. Don't even expect it to be major market mover.
Forget about changing fundamentals.
Unless FED is interested in talking QE4.
Which we don't think the FED will be doing.
So, Will FED hike today?
NO.
Will it cut rates?
NO.
Will it indicate slower pace of hike?
YES. If yes, we already expect that. We also know, that would be data dependent.
Will FED acknowledge recent market turmoil and trouble in China?
YES. No surprise there.
Is that likely to slow down FED hikes?
Even if yes, already priced in.
Can't think of anything......that could be surprising. Nevertheless, there are few things to watch out in FOMC.
- US economic data has been weak, expect for the payroll. Manufacturing sector is in recession. Will FED acknowledge weakness in the economy and push back hike expectations further.
- What would be FED's commentaries on market turmoil and volatility?
- How has the overall view of the FED changes over inflation with five new voting members on board?
