Fed’s Bostic: Fed likely to be in restrictive territory well into 2024

The Fed funds market is pricing in a decline to 4.04% at the end of 2024 right now with cut pricing accelerating around May.

You can imagine there will be some genuine enthusiasm in equities when we get a better sense of when cuts are coming but that will also depend on what kind of shape the economy is in.

• Fed on trajectory to get to 2% inflation
• Jobs numbers came in as expected, I’m comfortable