This week is filled with Fed speakers and listening to their use of words would be vital in understanding the timing of the next rate hike from the US Federal Reserve. As of today, the market is pricing the next hike to be delivered at the June meeting and the last one for the year at the December meeting. On Monday, two Fed speakers shared their views; Minneapolis Fed President Neel Kashkari and Chicago Fed President Charles Evans.

• Speaking at Fox Business network, Charles Evans said that three rate hikes are entirely possible. He said that as he gains more confidence in the outlook, he could support three rate hikes this year. He added, “If inflation began to pick up that would certainly solidify (that expectation). It could be three, it could be two, it could be four if things really pick up…... There is room to get inflation up to 2 percent and in fact going beyond 2 percent a little bit to make sure we get there, and that it's a symmetric inflation objective, so that's ok"

Our last dashboard focusing on March meeting was correct in predicting a rate hike and the dissent by Neel Kashkari. Now, our new dashboard will be focusing on the June meeting and it looks like below,

Doves: Neel Kashkari

Hawks: Charles Evans

Unknown: Janet Yellen, Patrick Harker, Stanley Fischer, William Dudley, Lael Brainard, and Robert Kaplan

Pls. note that Daniel Tarrullo has resigned and the position is yet to be filled.