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Financial Conditions Just Eased Dramatically. Here’s What It Means
If you're wondering just how much of the financial conditions tightening impulse seen from late-July
This article does a good job of touching on a number of subjects I’ve been thinking about recently.
That’s it. That’s the comment.
I wonder how much the Fed cares about FCI as measured by sellside gauges. When FCI was very loose in Jan and Jul 2023, I can’t recall any overt Fed reaction. I suspect the Fed may pay more attention to other gauges of financial conditions, e.g. rates, SLOOS, M2, etc.