Week InReview: April 14, 2023

Fed aftermath.

US equity futures and European stocks rose as investors weighed the path of Fed interest-rate increases for the rest of 2023. Minutes of the Fed's March meeting signaled officials appear on track to extend their run of hikes when they meet next month, while staff advisers forecast a “mild recession” later this year. Economists see the most likely outcome as a quarter-point increase in May, followed by an extended pause. But the language in the minutes, coupled with some officials' comments and a still-uncertain outlook for the impact of credit tightening on the economy, point to a rate path that m ay not be fully settled.

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