As inflation reached a 40-year high last month the Federal Reserve increased its target range for the federal funds rate by 25 bps and projected 6 more increases for 2022. Currently, the Fed funds futures market is pricing in approximately 270 basis points of increase for 2022, surpassing the 250 basis point increase seen in 1994. Deutsche Bank’s chief economist recently suggested that the Federal Reserve could increase short-term rates to as high as 5%. Q1 2022 hedge fund letters, conferences and more Rising Short Term Rates Can Be Positive For Hedge Fund StrategiesMost people associate risin…