I think the Fed is extremely data dependent, if anything, too data dependent, says Anna Wong, chief US economist for Bloomberg Economics. In this Macro Matters edition of the FICC focus podcast, Wong joins host Ira Jersey, chief US interest rate strategist for Bloomberg Intelligence, to unpack the March FOMC meeting. The pair discuss the surprises and developments from the meeting, including revisions to the Statement of Economic Projections and their implications for the path of Fed policy. Revisions to longer-run rate expectations, intermeeting black swan events, thresholds for interest rate cuts, and risk cases to economic forecasts are also discussed.