Hallelujah: Market Forecasts Converge With Fed Outlook

In case you haven't noticed by now, Trump's election and subsequent nod to fiscal stimulus in his acceptance speech have ignited the previously illusory "reflation" trade. Suddenly, the Fed's outlook for rates doesn't look so unrealistic. Indeed, the vastly improved outlook for growth and inflation under Trump has the market betting on a much more hawkish Fed, even as the pessimists among us might be inclined to believe that the new president will be unable to pass stimulus measures through Con