{"id":251388,"date":"2024-08-05T19:42:15","date_gmt":"2024-08-05T19:42:15","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/05\/fed-funds-path-as-of-noon-et\/"},"modified":"2025-06-25T17:13:07","modified_gmt":"2025-06-25T17:13:07","slug":"fed-funds-path-as-of-noon-et","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/05\/fed-funds-path-as-of-noon-et\/","title":{"rendered":"Fed Funds Path as of Noon ET"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-53103\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>From CME:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-53104\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24.png\" alt=\"\" width=\"878\" height=\"604\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24.png 878w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24-300x206.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24-768x528.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/dffpix_cme5aug24-624x429.png 624w\" sizes=\"(max-width: 878px) 100vw, 878px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Effective Fed funds (bold black), from futures as of 7\/26 (teal), as of 8\/2 (red), and of 8\/5 noon ET (light blue), in %. Source: Fed, CME, author\u2019s calculations.<\/em><\/p>\n<p>Note the ten year Treasury yield also fell at open:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-53105\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24.png\" alt=\"\" width=\"1200\" height=\"832\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24.png 1200w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24-300x208.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24-1024x710.png 1024w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24-768x532.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/usgg10yr_ind_5aug24-624x433.png 624w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/a><\/p>\n<p><em><strong>Note:<\/strong> Central Time.<\/em><\/p>\n<p>Addendum:<\/p>\n<p>Fed funds path relative to CBO June projection:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-53108\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a.png\" alt=\"\" width=\"1051\" height=\"576\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a.png 1051w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a-300x164.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a-1024x561.png 1024w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a-768x421.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/08\/fedfundspix_jul24a-624x342.png 624w\" sizes=\"(max-width: 1051px) 100vw, 1051px\"\/><\/a><\/p>\n<p><em><strong>Figure 2:<\/strong> Fed funds (black), CBO projection (blue), WSJ July survey mean end-of-quarter (pink square), CME futures implied as of 7\/26 (green), as of 8\/5 noon ET (red), all in %. Source: Fed, CME, WSJ survey, and author\u2019s calculations.<\/em><\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2024\/08\/fed-funds-path-as-of-noon-et\" title=\"11:43 am\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-08-05T11:43:05-07:00\">August 5, 2024<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2024\/08\/fed-funds-path-as-of-noon-et\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] From CME: Figure 1: Effective Fed funds (bold black), from futures as of 7\/26 (teal), as of 8\/2 (red), and of 8\/5 noon ET<\/p>\n","protected":false},"author":1,"featured_media":251389,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251388"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=251388"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/251389"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=251388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=251388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=251388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}