BANK TREASURERS AND THE KOBAYASHI MARU

The big news this afternoon is the Fed’s well-telegraphed rate hike, its 11th straight hike since it began raising the target Fed Funds rate in March 2022. But if bank treasurers were hoping for some sign from the Fed that there is a light at the end of the tunnel with these hikes, they are likely disappointed. The problem is that no one really knows where the Fed is headed, probably not even the Fed.