Signs of disinflation have emerged even as investors fear the Federal Reserve Chair Powell will keep battling inflation through aggressive rate hikes that...
Signs of disinflation have emerged even as investors fear Federal Reserve Chair Powell and his colleagues will keep battling inflation through aggressive rate hikes that have hurt both stocks and bonds, according to a Capital Economics note.
While it appears the Fed may on Wednesday announce that it’s hiking its benchmark rate by three quarters of a percentage point for a third straight time, Paul Ashworth, chief North America economist at Capital Economics, expects a less aggressive monetary policy stance could soon follow. The Federal Reserve is aiming to bring inflation down to its 2% target range through monetary tightening that got under way earlier this year, crushing stocks and bonds.
The fed-funds rate sits at a range of 2.25% to 2.5% ahead of the central bank’s anticipated rate increase Wednesday. Fed funds futures suggest the rate may peak at close to 4.5%, according to the Capital Economics note.
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