| The Federal Reserve raised interest rates - by a quarter of a percentage point - for the first time in three years and said it expected to keep increasing them until they hit between 1.75 per cent and 2 per cent by the end of the year, in a newly aggressive stance against the highest inflation in a generation.
“But, in my view, the probability of a recession within the next year is not particularly elevated. And why do I say that? Aggregate demand is currently strong and most forecasters expect it to remain so,” he said. “Raise rates a bunch, bring inflation down but GDP growth and unemployment are steady. Hmmm,” she wrote.
St Louis Fed President James Bullard was the only policymaker to dissent in the Fed’s decision of a 0.25 percentage point hike, suggesting the Fed should have hiked by 0.50 percentage points.
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Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »