Following Janet Yellen’s remarks on March 3, CME Group Chief Economist Blu Putnam says Yellen “has become a hawk,” signaling that the next FOMC meeting will result in the latest Fed rate increase. Yellen is “more confident about the economy and more ready to raise rates than ever before,” he concludes in the below video.
As Agha Mirza pointed out in a post this week, the market agrees with this perspective. Following Yellen’s remarks at the Executives Club of Chicago, CME Group’s Fed Watch Tool shot up to a more than 90 percent probability that the Fed would raise rates when they meet March 15.
See Putnam’s full view: