Chart of the Week: Fed Funds Rate, Outbound Tender Volume Index – USA SONAR: FEDFUND.USA, OTVI.USA
The Fed raised interest rates another 75 basis points (0.75%) on Wednesday, which will more than likely support the continuing decline in trucking demand that started in early March. The national Outbound Tender Volume Index (OTVI), which measures requests from shippers for truckload capacity, has an inverse correlation with the federal funds rate — as one goes up, the other comes down. Truckload...
https://www.freightwaves.com/news/trucking-caught-in-crossfire-of-feds-war-on-inflation