2023, a year of pause for the Fed, so what?

English -

9 Jan 2023

The periods of Fed pause that follow monetary tightening typically occur towards the middle or end of the cycle, at a time of economic slowdown. The point of these pauses, which are sooner or later followed by a period of monetary easing (except in 2015), is to ensure that the cycle lasts longer when a threat of recession emerges. In some instances, they did prevent a recession (1984, 1987, 1995, 1997, 2015 and 2018), in others not (1989, 2000 and 2006). That’s why the later easing period is more or less pronounced.

Investment strategy

Contact us

Our strategist economists are at your disposal

+33 1 53 42 65 33


France's leading independent research company in macroeconomics and investment strategy.