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Did the Haver "ransomware" attack inadvertently impact FOMC decision for "higher for longer"? Dec 2022 "dot plots"? Explains why 2-yr see fewer Fed hikes in 2023. Surge in Earnings Yield past year supports strong gains in 2023.

Did a "ransomware" attack at Haver Analytics impact the Fed's December FOMC forecast? Quite possibly

Equities sold off sharply in the days following the December FOMC. Investors told us they were disappointed:

Despite visible progress on inflation (2 consecutive very soft inflation prints)Fed increased the inflation forecasts for 2022 and 2023 by +30bp and +40bp in their SEP (summary economic projections)And as a result, Fed decided to push for "higher for longer"In other words, despite better in...

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