JPow: Here We Go -- December 14, 2022

Here it is: raised 50 bp.

• 4.25 - 4.50%.

Outlook: hawkish.

• will go above 5%
• that's higher than previously telegraphed
• and, higher for longer
  

Dow:

• just prior to the announcement: Dow was up 80 points
• now: trending down; flat to very, very slightly positive
• five minutes later: Dow goes negative
  

WTI:

• up 2.85%
• up $2.15
• trading at: $77.54