Morning Note Nov 17, 2022 | A Pause And Then More Pause

Good Morning!

Futures are lower by more than 1% thanks to some hawkish Fedspeak as we expected. As we noted a few days ago, the Fed is going to try and walk back the CPI report as it is counterproductive in supporting their program of tighter monetary policy. St Louis Fed President James Bullard said "the policy rate is not yet in a zone that may be cons…